Robotics and Artificial Intelligence ETF (IRBO) at 52-Week High

For investors looking for momentum, iShares Robotics and Artificial Intelligence Multisector ETF IRBO is probably a suitable pick. The fund just hit a 52-week high and is up 71.9% from its 52-week low price of $19.10/share. Let's take a look at the fund and its near-term outlook to gain an insight into where it might be headed: This ETF seeks to track the investment results of an index composed of developed and emerging market companies that could benefit from the long-term growth and innovation in robotics technologies and AI. It has AUM of $176.1 million and charges 47 basis points (bps) in annual fees. Due to the coronavirus outbreak, the robotics market is flooded with opportunities as robots are being used for jobs such as sanitizing hospitals, homes and workplaces along with monitoring, surveying, handling, and delivering food and medicines.