The once downtrodden iShares MSCI Brazil Index (ETF) (NYSE: EWZ) is up a staggering 27 percent over the past month, as commodities prices have rebounded and an expanding corruption probe in Latin America's largest economy threatens to ensnare current President Dilma Rousseff and her predecessor, Luiz Inacio Lula da Silva.
EWZ's rally into a new bull market has been a boon for its leveraged counterpart, the Direxion Daily Brazil Bull 3x Shares (Direxion Shares Exchange Traded Fund Trust (NYSE: BRZU)). Even with a modest by its standards loss of 2.6 percent Monday, BRZU is up more than 89 percent over the past month. On a month-to-date basis, BRZU is up nearly 77 percent, a performance exceeded by just one other Direxion leveraged bullish ETF.
All that for an ETF that late last ...
/www.benzinga.com/trading-ideas/long-ideas/16/03/7462425/brazil-etfs-rise-stokes-volume-spike-in-leveraged-counterpart alt=Brazil ETF's Rise Stokes Volume Spike In Leveraged Counterpart>Full story available on Benzinga.com
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