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Chinese Yuan ETF (CYB) Hits a New 52-Week High

Investors looking for momentum can keep WisdomTree Chinese Yuan Strategy Fund CYB on their radar now. The fund recently hit a new 52-week high. Shares of CYB are up approximately 7.95% from its 52-week low of $22.89/share.


But could more gains be ahead for this ETF? Let’s take a look at the fund and the near-term outlook to get a better idea of where it might be headed.


CYB in Focus


CYB focuses on providing exposure to the value of the Chinese currency, yuan. It charges 45 basis points in fees per year and has AUM of $37.15 million (see all Currency ETFs here).


Why the Move?


The Chinese currency has been rallying lately, owing to the recent confidence in the Chinese economy. In June, MSCI announced its plans of including mainland China’s shares to its benchmark emerging markets index. Moreover, yuan surged on bullish expectations relating to the bond connect scheme allowing investors to access mainland China's over $9 trillion debt market through Hong Kong.


More Gains Ahead?


The fund has a weighted alpha of 2.3 and a 14-day standard deviation of 4.14%. Owing to the low standard deviation and bullish expectations, still some promise seems to remain for those who want to ride this surging ETF a little further.


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WISDMTR-CH YUAN (CYB): ETF Research Reports
 
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