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Global X E-commerce ETF (EBIZ) Hits New 52-Week High

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For investors looking for momentum, Global X E-commerce ETF (EBIZ - Free Report) is probably a suitable pick. The fund just hit a 52-week high and is up 59.2% from its 52-week low price of $12.94/share.

Let’s take a look at the fund and its near-term outlook to gain an insight into where it might be headed:

EBIZ in Focus

This ETF seeks to invest in companies positioned to benefit from the increased adoption of e-commerce as a distribution model, including companies whose principal business is in operating e-commerce platforms, providing e-commerce software and services, and/or selling goods and services online. It has AUM of $12.3 million and charges 50 basis points (bps) in annual fees.

Why the Move?

In order to contain the spread of the virus, governments across the globe are shutting down economic activities and imposing social distancing measures. In the current scenario, consumers are opting for online retailers to purchase food items and other goods. This is driving orders for online retailers like Amazon, making funds like EBIZ an attractive investment option.

More Gains Ahead?

It seems like the fund will remain strong, with a positive weighted alpha of 21.50, which gives cues of further rally.

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