For investors looking for momentum, O’Shares Global Internet Giants ETF (OGIG - Free Report) is probably a suitable pick. The fund just hit a 52-week high and is up 70.6% from its 52-week low price of $20.48/share.
Let’s take a look at the fund and its near-term outlook to gain an insight into where it might be headed:
OGIG in Focus
This ETF seeks to track the performance (before fees and expenses) of the O’Shares Global Internet Giants Index. It is a rules-based ETF designed to provide investors with the means to tap the largest global companies that derive most of their revenues from the Internet and e-commerce sectors that exhibit quality and growth potential. It has AUM of $167.6 million and charges 48 basis points (bps) in annual fees.
Why the Move?
Due to the coronavirus outbreak, consumers are opting for online retailers to purchase food items and other goods and are resorting to video streaming services and other modes of in-house entertainment. In line with the rising online shopping trend, customers are resorting to digital payments to clear their bills, while merchants and utility providers are advocating the same. Also, the pandemic has resulted in some changes in the lifestyle and preferences of people. Most of the surveys have found that people are opting for online shopping over visiting a brick-and-mortar store for their purchases of essential food items and supplies. Even as the global economy starts to reopen in phases and social-distancing restrictions are being eased, people will try to minimize human-to-human contact. This is making funds like OGIG an attractive investment option.
More Gains Ahead?
It seems like the fund will remain strong, with a positive weighted alpha of 53.31, which gives cues of further rally.
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Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
For investors looking for momentum, O’Shares Global Internet Giants ETF (OGIG - Free Report) is probably a suitable pick. The fund just hit a 52-week high and is up 70.6% from its 52-week low price of $20.48/share.
Let’s take a look at the fund and its near-term outlook to gain an insight into where it might be headed:
OGIG in Focus
This ETF seeks to track the performance (before fees and expenses) of the O’Shares Global Internet Giants Index. It is a rules-based ETF designed to provide investors with the means to tap the largest global companies that derive most of their revenues from the Internet and e-commerce sectors that exhibit quality and growth potential. It has AUM of $167.6 million and charges 48 basis points (bps) in annual fees.
Why the Move?
Due to the coronavirus outbreak, consumers are opting for online retailers to purchase food items and other goods and are resorting to video streaming services and other modes of in-house entertainment. In line with the rising online shopping trend, customers are resorting to digital payments to clear their bills, while merchants and utility providers are advocating the same. Also, the pandemic has resulted in some changes in the lifestyle and preferences of people. Most of the surveys have found that people are opting for online shopping over visiting a brick-and-mortar store for their purchases of essential food items and supplies. Even as the global economy starts to reopen in phases and social-distancing restrictions are being eased, people will try to minimize human-to-human contact. This is making funds like OGIG an attractive investment option.
More Gains Ahead?
It seems like the fund will remain strong, with a positive weighted alpha of 53.31, which gives cues of further rally.
Want key ETF info delivered straight to your inbox?
Zacks’ free Fund Newsletter will brief you on top news and analysis, as well as top-performing ETFs, each week. Get it free>>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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