For investors looking for momentum, iShares Robotics and Artificial Intelligence Multisector ETF (IRBO Quick QuoteIRBO - Free Report) is probably a suitable pick. The fund just hit a 52-week high and is up 172.8% from its 52-week low price of $19.10/share.

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

IRBO in Focus

This ETF seeks to track the investment results of an index composed of developed and emerging market companies that could benefit from the long-term growth and innovation in robotics technologies and AI. It has AUM of $378.3 million and charges 47 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 IRBO an attractive investment option.

More Gains Ahead?

It seems like the fund will remain strong, with a positive weighted alpha of 106.61, 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>>