Global Tech ETF (IXN) Hit New 52

Global Tech ETF (IXN) Hit New 52-Week High

iShares Global Tech ETF IXN is probably on the radar for investors seeking momentum. The fund just hit a 52-week high and has gained just 1% from its 52-week low price of $151.40 per share.

Are more gains in store for this ETF? Let us take a quick look at the fund and the near-term outlook to get a better idea of where it might head.

The underlying S&P Global 1200 Information Technology 4.5/22.5/45 Capped Index comprises of global equities in the technology sector. The product charges 37 basis points (bps) in annual fees.

Global tech stocks are rising as AI spending, strong semiconductor demand and improving earnings expectations continue to support the sector. Optimism around AI infrastructure and data-center investment, along with expectations of easier monetary policy, is also encouraging investors to increase exposure to technology stocks worldwide.

IXN might continue its strong performance in the near term, with a positive weighted alpha of 67.59 (per Barchart.com), which hints at a rally.

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iShares Global Tech ETF (IXN): ETF Research Reports

This article originally published on Zacks Investment Research (zacks.com).