The Global X E-commerce ETF (EBIZ) has hit a new 52-week high

For investors looking for dynamics, Global X E-commerce ETF EBIZ is probably the right choice. The fund just hit a 52-week high and is up 175% from its 52-week low of $12.94 per share.

Let’s take a look at the fund and its near-future prospects to see where it could be headed:

EBIZ in the spotlight

This ETF seeks to invest in companies that are positioned to benefit from the increased adoption of e-commerce as a distribution model, including companies whose primary activities are operating e-commerce platforms, providing e-commerce software and services, and/or selling goods and services online. It has AUM of $155.1 million and charges 50 basis points (bps) in annual fees.

Why the move?

Online shopping is gaining popularity among shoppers trying to minimize human contact as coronavirus cases continue to rise around the world. To contain the spread of the virus, governments around the world are shutting down businesses and implementing social distancing measures. In the current climate, consumers are turning to online retailers to buy groceries and other goods. This is driving orders from online retailers like Amazon, making funds like EBIZ an attractive investment option.

More profits ahead?

The fund looks set to remain strong as a positive weighted alpha of 95.23 signals further growth.

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Global X Ecommerce ETF (EBIZ): ETF Research Reports

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