Russian ETFs Hit 52-Week High as US Sanction Fears Ease

Investopedia | Jun 14, 2019 at 1:50 PM
  • Russian stocks have bounced back to life in the first half of 2019 after five years struggling to gain traction amid U.S. sanctions, plunging oil prices, and an unstable float of the country’s ruble currency that effectively cut equity values by half.
  • More recently, RSX shares dipped below the 50-day simple moving average (SMA) before commencing their current move higher to print a 52-week high at $22.95 in yesterday’s trading session.
  • The Direxion Daily Russia Bull 3X Shares ETF (RUSL) sets an objective to return three times the daily performance of the MVIS Russia Index, making it suitable for traders who want an aggressive short-term bullish bet on Russian stocks.