Middle Eastern ETFs in Crisis (EGPT, GULF, GAF, PMNA, MES)
CNBC’s Herb Greenberg is suggesting that investors should skip the Middle East. The biggest problem is that the Market Vectors Egypt Index ETF (NYSE:EGPT) ETF is supposed to correlate with the Egyptian stock market, but that has been closed for days. How do you price an ETF when the underlying index is closed? Besides that, its average volume is under 100K, and last Friday it shot up to over a million shares. See Herb’s full video below.
ETFs mentioned in this video: Market Vectors Egypt Index ETF (NYSE:EGPT), WisdomTree Middle East Dividend (NASDAQ:GULF), SPDR S&P Emerging Middle East & Africa (NYSE:GAF), Market Vectors Gulf States Index ETF (MES).