GREK - Global X MSCI Greece ETF - A Mixed Bag

• GREK’s portfolio of stocks has traditionally proven to be one of the most volatile counters across Europe-based ETFs and its volume and spreads are a cause for concern.
• GREK’s dividend profile is notable and this is backed by the dividend credentials of its top holding whose business prospects too are looking rather encouraging.
• GREK macros, and the outlook for Greek banks don’t look too exciting, but much will depend on how effectively the tourism sector can bounce back.
• Valuations are cheap and GREK is currently consolidating below the upper boundary of its multi-year channel.

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