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As India Lags, The Pakistan ETF Is At All-Time Highs

Thursday, January 5, 2017 8:25
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(Before It's News)

From Zacks: For investors seeking momentum, MSCI Pakistan ETF (PAKFree Report) 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.

Global X MSCI Pakistan ETF (NYSE:PAK) was trading at $17.96 per share on Thursday morning, down $0.06 (-0.33%). Year-to-date, PAK has gained 2.63%, versus a 1.30% rise in the benchmark S&P 500 index during the same period.

PAK currently has an ETF Daily News SMART Grade of A (Strong Buy), and is ranked #11 of 77 ETFs in the Emerging Markets Equities ETFs category.


This article is brought to you courtesy of Zacks Research.

You are viewing an abbreviated republication of ETF Daily News content. You can find full ETF Daily News articles on (www.etfdailynews.com)



Source: http://etfdailynews.com/2017/01/05/as-india-lags-the-pakistan-etf-is-at-all-time-highs/

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