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Greece ETF (GREK) Hits New 52-Week High
For investors seeking momentum, Global X MSCI Greece ETF (GREK - Free Report) is probably on the radar. The fund just hit a 52-week high and is up 22.39% from its 52-week low price of $37.60/share.
But are more gains in store for this ETF? Let’s take a quick look at the fund and the near-term outlook on it to get a better idea of where it might be headed:
GREK in Focus
The underlying MSCI All Greece Select 25/50 Index represents the performance of the broad Greece equity universe, together with companies that are headquartered or listed in Greece and carry out the majority of their operations in that country. The product charges 57 bps in annual fees (See: All European Equity ETFs).
Why the Move?
Greek economic recovery and strong investor interest continue to drive optimism. Greece's economy is estimated to grow by 2.1% in 2025, primarily fueled by investment, according to the IMF. The near-term economic outlook for the country remains favorable supported by improving public finances, robust domestic demand and declining debt, a key tailwind for the fund.
More Gains Ahead?
Currently, GREK has a Zacks ETF Rank #3 (Hold), with a High risk outlook. However, it might continue its strong performance in the near term, with a positive weighted alpha of 16.83 (as per Barchart.com), which gives cues of a further rally.