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Online Retail ETF (XBUY) Hits a New 52-Week High
For investors looking for momentum, Amplify International Online Retail ETF is probably a suitable pick. The fund just hit a 52-week high and is up 114.8% from its 52-week low price of $18.57/share.
Let’s take a look at the fund and its near-term outlook to gain an insight into where it might be headed:
XBUY in Focus
This ETF seeks investment results that generally correspond (before fees and expenses) to the price performance of the EQM International Ecommerce Index. It has AUM of $7.9 million and charges 69 basis points (bps) in annual fees.
Why the Move?
The coronavirus outbreak continues to aggravate in the United States and globally. In order to contain the spread of the virus, governments across the globe are once again 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 XBUY an attractive investment option.
More Gains Ahead?
It seems like the fund will remain strong, with a positive weighted alpha of 69.31, which gives cues of further rally.
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