Artificial Intelligence and Robotics ETF (ROBT) at a 52-Week High

Artificial Intelligence and Robotics ETF (ROBT) at a 52-Week High

For traders in search of momentum, First Trust Nasdaq Artificial Intelligence and Robotics ETF ROBT might be a appropriate decide. The fund simply hit a 52-week excessive and is up 96.8% from its 52-week low worth of $22.51/share.

Let’s take a look at the fund and its near-term outlook to achieve an perception into the place it is likely to be headed:

ROBT in Focus

This ETF seeks funding outcomes that correspond usually to the worth and yield, earlier than the charges and bills of the Nasdaq CTA Artificial Intelligence and Robotics Index. It has AUM of $137.5 million and expenses 65 foundation factors in annual charges.

Why the Move?

Due to the coronavirus outbreak, the robotics market is flooded with alternatives as robots are getting used for jobs similar to sanitizing hospitals, houses and workplaces together with monitoring, surveying, dealing with, and delivering meals and medicines. The present circumstances appear favorable for the robotic markets in authorities functions, similar to well being, safety and protection. Also, with the reopening of the U.S. financial system, it’s believed that robots will see elevated utilization in industrial, manufacturing, healthcare, logistics, inspection and upkeep, automotive, electronics, and meals and beverage areas. This is making funds like ROBT a horny funding possibility.

More Gains Ahead?

It looks like the fund will stay robust, with a positive weighted alpha of 40.97, which supplies cues of additional rally.

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First Trust NASDAQ Artificial Intelligence and Robotics ETF (ROBT): ETF Research Reports
 
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The views and opinions expressed herein are the views and opinions of the writer and don’t essentially mirror these of Nasdaq, Inc.

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