BOTZ - Artificial Intelligence ETF hits 52-week high as its +23% YTD

2023-05-11 13:29:37 ET

Artificial Intelligence has been one of the big buzzwords of 2023 and the Global X Robotics & Artificial Intelligence ETF ( NASDAQ: BOTZ ) has taken notice as the exchange traded fund touched a new 52-week trading high on Thursday.

While BOTZ trades lower on the session by 0.3% , it opened at $25.65 a share which notched the funds highest level dating back to April 21 of 2022.

With its 44 holdings and $1.75B assets under management, BOTZ has now climbed 23.5% in 2023. Following the fund’s gains has been an influx of investors as the ETF padded its AUM in 2023 with $138.22M of new investor capital.

For reference, BOTZ aims to offer exposure to stocks that can benefit from the increased adoption and utilization of robotics and artificial intelligence which includes companies involved with industrial robotics and automation, non-industrial robots, and autonomous vehicles.

According to Global X, the issuer of BOTZ: “The global robotics market was valued at more than $55bn in 2021, with forecasts suggesting it could nearly double to $91bn by 2026.”

Additionally, BOTZ is not the only AI and robotics focused ETF that has pushed upward on the year. See below a grouping of other artificial intelligence exchange traded funds along with their year-to-date performances:

• iShares Robotics and Artificial Intelligence Multisector ETF ( IRBO ) +12.9% .
• First Trust Nasdaq Artificial Intelligence & Robotics ETF ( ROBT ) +13.8% .
• WisdomTree Artificial Intelligence and Innovation Fund ( WTAI ) +15.3% .
• Direxion Daily Robotics, Artificial Intelligence & Automation Index Bull 2X Shares ( UBOT ) +45.9% .

More on Artificial Intelligence:

What happened during the White House meeting on artificial intelligence?

Cathie Wood's 'Big Ideas 2023' sees Artificial Intelligence as the future

IRBO: Like A Mini BOTZ, This ETF Could Benefit From Artificial Intelligence Growth

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