Gapping above resistance: Emerging Market ETF (NYSE:EEM)

by Josh iShares MSCI Emerging Market Income ETF ($EEM) shares are seeing some strong momentum in today’s trade. iShares MSCI Emerging Market Income ETF is up 2.21% at $40.83 on heavy volume, 53,731,100 shares.

Shares gapped above the $40 resistance level and have continued to trade higher throughout the day thus far. The $40 price level served as support last year and again in in April, until finally being broken in June. After printing a low in Jun, shares have rallied, printing a higher low in late august, and powering higher last week.

Shares are approaching the 200 day moving average, currently at $41.27.

52 Week Range $36.16-$45.33 Market Cap 36,663,678,000 Average Volume 65,831,929 Dividend Yield 1.92% Institutional Ownership 0.00% Insider Ownership: 0.00% Percentage of Float Short 5.60% Beta 1.33

iShares MSCI Emerging Market Income ETF The investment seeks investment results that correspond generally to the price and yield performance, before fees and expenses, of the MSCI Emerging Markets Index (the “underlying index”). The fund generally invests at least 90% of its assets in the securities of its underlying index and in depositary receipts representing securities in its underlying index. The underlying index is designed to measure equity market performance in the global emerging markets. The fund invests all of its assets that are invested in India in a wholly owned subsidiary located in the Republic of Mauritius (the “Subsidiary”).

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