Interestingly, hedge funds that are bullish on Greek banks are, albeit indirectly, signaling they are bullish on emerging markets financials. After all, index providers Russell Investments and MSCI (NYSE: MSCI) both demoted Greece to emerging markets status earlier this year. The MSCI announcement, the second of the two, was made in June. Since June 14, GREK is up 25%. [Another Index Provider Sends Greece to Emerging Markets Status]
Global X FTSE Greece 20 ETF
ETF Trends editorial team contributed to this post.