Norway ETF (ENOR) Hit a 52-Week High

For investors seeking momentum, iShares MSCI Norway ETF ENOR is probably on the radar. The fund just hit a 52-week high and is up 33.1% from its 52-week low price of $21.75/share.But are more gains in store for this ETF? Let’s take a quick look at the fund and the near-term outlook on it to get a better idea of where it might be headed:ENOR in FocusThe underlying MSCI Norway IMI 25/50 Index is designed to measure broad-based equity market performance in Norway. The product charges 53 bps in annual fees (See: all European Equity ETFs here).Why the Move?The fund invests about 24.3% of its weights in ENOR. Norway is energy-rich. The ongoing Middle East tensions often drive oil prices higher due to supply disruption fears. Hence, ENOR stands to gain amid rising tensions in the Middle East.More Gains Ahead?ENOR might continue its strong performance in the near term, with a positive weighted alpha of 27.00 (as of Barchart.com), which gives cues of a further rally.Want key ETF info delivered straight to your inbox?Zacks’ free Fund Newsletter will brief you on top news and analysis, as well as top-performing ETFs, each week.Get it free >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report iShares MSCI Norway ETF (ENOR): ETF Research ReportsThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks