Online Retail ETF (IBUY) Hits a New 52-Week High

Sweta Jaiswal, FRM
·2-min read

For investors looking for momentum, Amplify Online Retail ETF IBUY is probably a suitable pick. The fund just hit a 52-week high and is up 210.8% from its 52-week low price of $33.11/share.

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

IBUY in Focus

This ETF seeks to provide investment results that, before fees and expenses, correspond generally to the price performance of the EQM Online Retail Index. The index is a globally-diverse basket of publicly-traded companies that obtain 70% or more of revenues from online or virtual sales. It has AUM of $1.11 billion and charges 65 basis points 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 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. Online is expected to be a major mode of shopping amid the outbreak in the holiday season also.Going byresearch and advisory firm, Forrester, U.S. online holiday sales are expected to hit $173 billion this year, suggesting growth of 24% year over year from $139 million. This is making funds like IBUY an attractive investment option.

More Gains Ahead?

It seems like the fund will remain strong, with a positive weighted alpha of 118.70, which gives cues of further rally.

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Amplify Online Retail ETF (IBUY): ETF Research Reports
 
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