Turkey ETF Recovers as Selling Starts Up Again

With the country’s penchant for political volatility, the specter of another election could be weighing on investors’ near-term views of the country’s financial markets. Data suggest some traders are comfortable betting on more declines for TUR.

“Some traders looking to bet on an extended slide have turned to shorting the ETF. By the numbers, short interest rose 14.5% in the last two reporting periods. TUR’s short interest ratio now stands at 5.0, meaning it would take short sellers a week to buy back their positions, based on average daily volumes,” reports Schaeffer’s.

TUR, which tracks the MSCI Turkey Investable Market Index, has a three-year standard deviation of 25.30%, meaning the fund is more volatile than broader baskets of emerging markets stocks.

For more information on the Turkish markets, visit our Turkey category.