For investors seeking momentum, Wedbush ETFMG Video Game Tech ETF (GAMR - Free Report) ) is probably on radar. The fund just hit a 52-week high and is up 37.6% from its 52-week low price of $35.50/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 on where it might be headed:
GAMR in Focus
The underlying EEFund Video Game Tech Index tracks companies actively involved in the electronic gaming industry including the entertainment, education and simulation segments. GAMR charges investors 75 bps in annual fees (see: all technology ETFs here).
Why the Move?
The video gaming corner of the broad stock market has been an area to watch lately, given the rising demand for video gaming amid coronavirus-led lockdowns. Social distancing and stay-at-home mandates to contain the coronavirus spread have led people to resort to video game for entertainment at home.
More Gains Ahead?
Currently, GAMR has a positive weighted alpha of 16.20. So, there is a decent outlook ahead for those who want to ride this surging ETF a shade further.
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