Although SEA may appear extended after a 21.2% year-to-date, upside from current levels could be significant.
“Whether $SEA breaks out this week or in a few weeks from now, there is very little overhead above $20. Once it clears that level, it could potentially run to the next major resistance level (around $25),” Wagner added.
SEA features a decent 30-day SEC yield of 3.18%. At the country level, the ETF features double-digit allocations to the U.S., Denmark, Hong Kong, Japan, Bermuda and Greece.[Famous Investors Like Greece]
Guggenheim Shipping ETF
ETF Trends editorial team contributed to this post.