Voya Financial (VOYA) Q3 Earnings and Revenues Top Estimates

For investors seeking momentum, Robo Global Artificial Intelligence ETF THNQis probably on radar. The fund just hit a 52-week high and is up 63.61% from its 52-week low price of $23.36/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 of where it might be headed:

THNQ in Focus

The underlying ROBO Global Artificial Intelligence Index measures the performance of publicly-traded companies that have a significant portion of their revenues derived from artificial intelligence (AI). The product charges 68 bps in annual fees (See: all the Artificial Intelligence and Robotics ETF here).

Why the Move?

In 2022, the global AI market reached a valuation of $ 136.55 billion. It is anticipated to witness a significant expansion at a CAGR of 37.3% from 2023 to 2030, as per Grand View Research. Nvidia’s exceptional earnings in the first quarter of fiscal 2023 have sparked optimism within the industry, resulting in a surge in stock prices across the sector, pushing AI ETFs to new highs.

 AI has the power to revolutionize global productivity and GDP. By 2030, PWC predicts that around 45% of economic gains will come from improved products, driving consumer demand.

More Gains Ahead?

The fund might continue with its strong performance given a positive weighted alpha of 35.74.

Want key ETF info delivered straight to your inbox?

Zacks’ free Fund Newsletter will brief you on top news and analysis, as well as top-performing ETFs, each week.

Get it free >>

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

ROBO Global Artificial Intelligence ETF (THNQ): ETF Research Reports

To read this article on Zacks.com click here.

Zacks Investment Research

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Image and article originally from www.nasdaq.com. Read the original article here.

By Zacks