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Robotics ETF (IBOT) Touches New 52-Week High
For investors seeking momentum, VanEck Robotics ETF (IBOT - Free Report) is probably on the radar now. The fund just hit a 52-week high and is up 61% from its 52-week low price of $33.42 per share.
But are there more gains in store for this ETF? Let’s take a quick look at the fund and its near-term outlook to get a better sense of where it might head.
IBOT in Focus
It offers exposure to companies involved in robotics. The fund charges 47 basis points (bps) in annual fees (See: all Artificial Intelligence and Robotics ETFs here).
What Led to the Rise?
The booming interest in artificial intelligence (AI) and robotics, along with strong sector tailwinds from tech giants' AI expansion, recent Fed rate cuts lowering the debt burden and improving funding for innovation, is likely to have boosted the performance of VanEck Robotics ETF. The increasing integration of robotics in multiple industries like healthcare and transportation, driving significant corporate investment and market excitement, must have also boosted the performance of robotics-focused ETFs like IBOT.
More Gains Ahead?
IBOT may continue its strong performance in the near term, with a positive weighted alpha of 29.84 (as per Barchart.com), which suggests a further rally.