For investors seeking momentum, Robotics & Artificial Intelligence ETF (BOTZ Quick QuoteBOTZ - Free Report) is probably on radar. The fund just hit a 52-week high and is up 49.5% from its 52-week low price of $17.33/share.

But are more gains in store for this ETF? Let’s take a quick look at the fund and the near-term outlook on it to get a better idea of where it might be headed:

BOTZ in Focus

Global X Robotics & Artificial Intelligence ETF follows the Indxx Global Robotics & Artificial Intelligence Thematic Index, which seeks investment in companies that stand to benefit from the increased adoption and utilization of robotics and AI, including those involved in industrial robotics and automation, non-industrial robots and autonomous vehicles. BOTZ charges 69 bps in annual fees (see: all the Artificial Intelligence And Robotics ETFs here).

Why the Move?

The artificial intelligence (AI) corner of the broad technology market has been an area to watch lately, given the AI boom and 13F filings. Per the filings, Billionaires Stanley Druckenmiller and David Tepper loaded up on stocks benefiting from the AI boom during the first quarter. Druckenmiller increased his stake in Nvidia Corp (NVDA) by more than 208,000 shares and made a new investment worth $210 million in Microsoft (MSFT), signaling a big push into AI-related stocks. On the other hand, David Tepper added a new position in Nvidia, buying 150,000 shares with a market value of approximately $41.7 million.

More Gains Ahead?

Currently, BOTZ might remain strong, given a weighted alpha of 22.60 and a higher 20-day volatility of 15.1%. There is definitely still some promise for investors who want to ride on this surging ETF.