NEW YORK ( TheStreet) -- As the U.S. and most developed countries struggle to get out of the global recession, many investors have switched to emerging markets such as Brazil, Russia, India and China and the BRIC countries. But there are other opportunities. South Africa, for instance, is known for its mining and production of precious metals and as long as the dollar remains weak and investors worry about inflation, precious metals will remain a hot commodity. To further boost its appeal, South Africa's government has implemented a spending restraint which has enabled its currency to remain relatively strong and its debt ratios favorable. The easiest way to gain exposure to the nation is through the iShares MSCI South Africa Index ETF ( EZA). Another opportunity lies in Eastern Europe and the emerging nation of Turkey. The country is attractive because its consumer confidence levels are rising, it has a relatively young workforce, it boasts a thriving manufacturing sector and it has a promising financial sector which has been boosted by the increase in consumer and business lending. In addition, the Turkish government is doing everything it can to meet all the requirements and be accepted by the European Union. Gaining exposure to Turkey can be done through the iShares MSCI Turkey Invest Mkt Idx ( TUR). Mexico, which has undergone a huge fiscal face lift, is drawing investor interest, too. The emerging nation recently recorded a record foreign currency reserve and an investment grade debt rating. In addition, its ties to large U.S. companies, like Wal Mart ( WMT), lowers risk factors. Mexico can be accessed through the iShares MSCI Mexico Invest Mkt Idx ( EWW).
In trading on Thursday, shares of the iShares MSCI South Africa ETF crossed above their 200 day moving average of $67.70, changing hands as high as $69.37 per share. iShares MSCI South Africa shares are currently trading up about 2.3% on the day.
Investors in iShares MSCI South Africa Index Fund saw new options begin trading this week, for the February 20th expiration. At Stock Options Channel, our YieldBoost formula has looked up and down the EZA options chain for the new February 20th contracts and identified one put and one call contract of particular interest.
Looking today at week-over-week shares outstanding changes among the universe of ETFs covered at ETF Channel, one standout is the iShares MSCI South Africa ETF where we have detected an approximate $24.6 million dollar outflow -- that's a 5.5% decrease week over week (from 7,300,000 to 6,900,000). START SLIDESHOW:Click here to find out which 9 other ETFs experienced notable outflows » The chart below shows the one year price performance of EZA, versus its 200 day moving average: Looking at the chart above, EZA's low point in its 52 week range is $55.31 per share, with $72.77 as the 52 week high point — that compares with a last trade of $60.78.