The Moscow exchange has been temporarily shut.The Moscow exchange has been temporarily shut.The iShares MSCI Russia ADR/GDR ETF rallied over 40% on Thursday after the London Stock Exchange froze trading in global depositary receipts of several Russia-based companies.
The ETF, which gives exposure to Russian companies like Sberbank and Gazprom that are now impossible to trade elsewhere, gained 46% to $24.1 by 0854 GMT after hitting a record low on Tuesday as investors pulled out of Russian assets.
Like other exchange-traded funds exposed to Russia, the iShares MSCI Russia ADR/GDR has temporarily suspended the creation of new shares given turbulent market conditions followed by Russia's invasion of Ukraine and Western sanctions.
The Moscow exchange has been temporarily shut.
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