As one of the largest issuers of currency hedged exchange traded funds, WisdomTree Investments Inc. (NASDAQ: WETF) is affected by the dollar's movement.
Coming into Thursday, no ETF had more new assets this year than the WisdomTree Europe Hedged Equity Fund (NYSE: HEDJ) and the WisdomTree Japan Hedged Equity Fund (NYSE: DXJ) was also found among the top 10 asset-gathering ETFs on a year-to-date basis. WisdomTree had $60.7 billion in assets under management as of August 20. HEDJ and DXK combined for $35.7 billion in assets as of August 25.
So with the U.S. Dollar Index down over the past month, it probably is not surprising that shares of WisdomTree have traded lower as well. However, WisdomTree's 13.6 percent loss over that period is perhaps a case of overshooting the dollar's modest downturn, but the good news, at least in the eyes of one analyst, the pullback in WisdomTree's stock is a legitimate buying opportunity.
“The headwinds from recent macro volatility are transitory and provide an attractive entry ...
/www.benzinga.com/analyst-ratings/analyst-color/15/08/5797446/back-up-the-bus-on-shares-of-wisdomtree alt=Back Up The Bus On Shares Of WisdomTree>Full story available on Benzinga.com
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