For investors seeking momentum, ROBO Global Artificial Intelligence ETF (THNQ Quick QuoteTHNQ - Free Report) is probably on the radar. The fund just hit a 52-week high and is up 86.39% from its 52-week low price of $37.03/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:

THNQ in Focus

The underlying ROBO Global Artificial Intelligence Index measures the performance of publicly-traded companies that have a significant portion of their revenues derived from the field of artificial intelligence. The product charges 68 bps in annual fees (see: All Artificial Intelligence And Robotics ETF).

Why the Move?

AI continues to stand out as a key area of focus within the broader market. Supported by interest rate cuts by the Fed and upbeat corporate earnings, the AI segment offers an attractive investment opportunity.

The global AI market is forecast to reach a valuation of $1.68 trillion by 2031 at a CAGR of 36.89% from 2025 to 2031, according to Statista. The potential of AI to revolutionize global productivity and GDP is immense.  

More Gains Ahead?

THNQ might continue its strong performance in the near term, with a positive weighted alpha of 56.57 (as per Barchart.com), which gives cues of a further rally.