We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Image: Bigstock
Pakistan ETF (PAK) Hits New 52-Week High
For investors seeking momentum, MSCI Pakistan ETF is probably on their radar now. The fund just hit a 52-week high and is up about 50.2% from its 52-week low price of $12.00/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 on where it might be headed:
PAK in Focus
This product offers exposure to the large and liquid companies in Pakistan by tracking the MSCI All Pakistan Select 25/50 Index. Financials, materials and energy are the top three sectors of the fund with double-digit weight each. The fund charges 0.68% in expense ratio (see: Broad Emerging Market ETFs).
Why the Move?
This Pakistan ETF has been picking up momentum lately on improved capital mobility and liquidity. The country has been working on a turnaround. The country’s economy is growing at a decent rate of approximately 4.5% per annum. The country’s young population could act as a key catalyst to long-term growth.
More Gains Ahead?
It seems that PAK might continue with its strength given a high weighted alpha of 44.10%. As a result, there is definitely still some promise for risk-aggressive investors who want to ride on this surging ETF.
Want key ETF info delivered straight to your inbox?
Zacks’ free Fund Newsletter will brief you on top news and analysis, as well as top-performing ETFs, each week. Get it free >>