U.S. Markets open in 25 mins

Italy ETF (EWI) Hits New 52-Week High

Sanghamitra Saha

For investors seeking momentum, iShares MSCI Italy Capped ETF EWI is probably on radar now. The fund just hit a 52-week high of $28.58. Shares of EWI are up roughly 45.7% from their 52-week low price of $19.62/share. 

But could more gains be ahead for this ETF? Let’s take a quick look at the fund and the near-term outlook to get a better idea on where it might be headed: 

EWI in Focus

The fund looks to track the performance of the price and yield performance of MSCI Italy 25/50 Index. The fund has a focus toward Financials (34.77%) and charges 48 bps in total fees (see all European Equity ETFs here). 

Why the Move?

Italian stocks have been one of the best performers in recent sessions. Though the economy is still struggling, its beleaguered banking sector seems to have improved from before. The recovering Euro zone overall is benefiting Italian assets, as per analysts.

More Gains Ahead? 

The fund has a positive weighted alpha of 29.60. A positive weighted alpha hints at more gains. As a result, there is definitely still some promise for 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 >>


Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
 
ISHARS-ITALY (EWI): ETF Research Reports
 
To read this article on Zacks.com click here.
 
Zacks Investment Research
 
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report