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Cybersecurity ETF (CIBR) Hits New 52-Week High

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Investors seeking momentum may have First Trust NASDAQ Cybersecurity ETF (CIBR - Free Report) on radar now. The fund recently hit a new 52-week high. Shares of CIBR are up approximately 47.1% from their 52-week low of $32.56/share.

But could there be more gains ahead for this ETF? Let’s take a look at the fund and the near-term outlook to get a better idea of where it might be headed.

CIBR in Focus

The underlying Nasdaq CTA Cybersecurity Index tracks the performance of companies engaged in the cybersecurity segment of the technology and industrials sectors. The expense ratio is 0.60%.

Why the move?

Operations of around 1,500 organizations were compromised by the file-encrypting malware recently after an incident at U.S. IT firm Kaseya. The rampant usage of Internet has raised the risk of cyber threats. In case of work from home, proprietary business data is being accessed from personal computers and laptops that may not have the same level of security as in-office setups. Public-sector organizations are facing massive problems. No wonder, cyber security stocks gained recently.

More Gains Ahead?

The fund has a positive weighted alpha of 38.66. So, there is a decent outlook ahead for those who want to ride this surging ETF a shade further.

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