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Internet ETF (OGIG) Hits New 52-Week High

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Investors seeking momentum may have O’Shares Global Internet Giants ETF (OGIG - Free Report) on radar now. The fund recently hit a new 52-week high. Shares of OGIG are up approximately 79.1% from their 52-week low of $20.48/share.

But could there be more gains ahead for this ETF? Let’s take a look at the fund and the near-term outlook to get a better idea of where it might be headed.

OGIG in Focus

The fund is a rules-based ETF designed to provide investors with the means to invest in some of the largest global companies that derive most of their revenue from the Internet and e-commerce sectors that exhibit quality and growth potential. OGIG charges investors 48 basis points in fee per year (see all technology ETFs here).

Why the move?

The internet space has been performing well lately. Notably, social distancing triggered by the coronavirus outbreak has benefited communications and activities over internet in recent months.

More Gains Ahead?

The fund has a positive weighted alpha of 58.28. So, there is a decent outlook ahead for those who want to ride this surging ETF a shade further.

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