Franklin FTSE South Korea ETF FLKR is probably on the radar for investors seeking momentum. The fund just hit a 52-week high and has moved up 201.99% from its 52-week low price of $16.54 per share.
Are more gains in store for this ETF? Let us 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.
FLKR in Focus
The underlying FTSE South Korea RIC Capped Index is a market-capitalization weighted index representing the performance of South Korean large and mid-capitalization stocks. The fund has double-digit exposure to information technology (48.68%), industrials (19.16%) and financials (11.25%). The product charges 0.09% in annual fees (see: all Asia-Pacific (Developed) ETFs).
Why the Move?
South Korea has emerged as an economy to watch. KOSPI, the country’s benchmark equity index, has surged 21.35% over the past month and 94.59% over the past six months, highlighting strong momentum in the Asian market. The semiconductor sector has spearheaded the rally in South Korea’s equity market, with a powerful chip rebound driving much of the recent gains.
More Gains Ahead?
Currently, FLKR has a Zacks ETF Rank #3 (Hold). It might continue its strong performance in the near term, with a positive weighted alpha of 187.84 (as per Barchart.com), which gives cues of a further rally.
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This article originally published on Zacks Investment Research (zacks.com).
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
