Earlier this year, another index provider, Russell Investments, demoted Egypt to frontier status. The index provider will move Egypt to frontier status effective June 27, 2014. [Egypt Dodges Frontier Demotion]
“On the technical front the ETF looks expensive and its positive momentum has been fading away, although still trading above its three moving averages. The ETF has been in a strong rally mode since mid 2013. Recently after hitting the maximum price of $74.56 the etf could be due to a short term correction. It could be a good moment to sell and buy it again when it trades within the range of $63 and $65,” according to Emerging Equity.
EGPT has added $6.44 million in assets this year, bring its assets under management tally to $71.4 million as of Aug. 15.
Market Vectors Egypt Index ETF
