FTSE Brazil ETF (FLBR) Hits Fresh 52-Week High
For investors seeking momentum, the Franklin FTSE Brazil ETF FLBR is probably on the radar now. The fund just hit a 52-week high and is up 48.4% from its 52-week low price of $13.98 per share.
But are there more gains in store for this ETF? Let’s take a quick look at the fund and its near-term outlook to get a better sense of where it might head.
FLBR in Focus
It offers exposure to Brazil-based large and mid-cap stocks. The fund charges 19 basis points (bps) in annual fees (See: all Latin American Equity ETFs here).
What Led to the Rise?
The Franklin FTSE Brazil ETF likely hit a 52-week high due to Brazil's strengthening currency (the Real) and record highs in the Brazilian stock market lately. This positive trend is driven by expectations of future interest rate cuts by Brazil's central bank and a favorable outlook due to the potentially weaker U.S. dollar.
More Gains Ahead?
FLBR may continue its strong performance in the near term, with a positive weighted alpha of 37.98 (as per Barchart.com), which suggests a further rally.
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This article originally published on Zacks Investment Research (zacks.com).
