Markets

Robotics & Artificial Intelligence ETF (BOTZ) at a 52-Week High

For investors looking for momentum, Global X Robotics & Artificial Intelligence ETF BOTZ is probably a suitable pick. The fund just hit a 52-week high and is up 99.5% from its 52-week low price of $14.77/share.

Let’s take a look at the fund and its near-term outlook to gain an insight into where it might be headed:

BOTZ in Focus

This ETF seeks to invest in companies that potentially stand to benefit from increased adoption and utilization of robotics and artificial intelligence (AI), including those involved with industrial robotics and automation, non-industrial robots, and autonomous vehicles. It has AUM of $1.79 billion and charges 68 basis points in annual fees.

Why the Move?

Due to the coronavirus outbreak, the robotics market is flooded with opportunities as robots are being used for jobs such as sanitizing hospitals, homes and workplaces along with monitoring, surveying, handling, and delivering food and medicines. The current conditions seem favorable for the robotic markets in government applications, such as health, security and defense. Also, with the reopening of the U.S. economy, it is believed that robots will see increased usage in industrial, manufacturing, healthcare, logistics, inspection and maintenance, automotive, electronics, and food and beverage areas. This is making funds like BOTZ an attractive investment option.

More Gains Ahead?

It seems like the fund will remain strong, with a positive weighted alpha of 52.60, which gives cues of further rally.

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Global X Robotics Artificial Intelligence ETF (BOTZ): ETF Research Reports
 
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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