Other hedge funds are snatching up shares of Argentine companies, as well. According to regulatory filings, the hedge funds have acquired holdings in U.S.-listed Argentine shares, including YPF S.A. (NYSE: YPF), Petrobras Argentina, Telecom Argentina and Banco Frances.
Earlier this year, Michael Novogratz, president of Fortress Investments, suggested that Argentina was one of their countries seen as “so bad, they’re good,” pointing to a potential buying opportunity in the event of a default. [Hedge Funds Race Into Argentine Stocks]
In addition to ARGT, 22 other ETFs have exposure to Argentina. With a 14.4% to the country, the Guggenheim Frontier Markets ETF (NYSEArca: FRN) has the next largest Argentina exposure after ARGT. ARGT is expected to transition to an index from MSCI later this month.
Global X FTSE Argentina 20 ETF
