5 ETF Areas Hitting Highs On Resurging Coronavirus Cases

The second wave of coronavirus infections is spreading rapidly all over the world. According to the latest study from the World Health Organization, there has been a record increase of 230,370 coronavirus cases in 24 hours across the globe. 

The United States has been at the forefront with more than 66,500 new cases confirmed in the past 24 hours. This was followed by India, which has seen a record surge of 28,637 cases, and South Africa, which has reported 13,497 new coronavirus cases in the same timeframe. The increase in new cases has sparked a broad-based resurgence in the pandemic that threatens to stunt the world’s reopening process and economic recovery.

As the pandemic situation is getting worse or not better, stock markets will see continued volatility in the weeks ahead. While many corners of the broad market are at risk, the resurgence in coronavirus cases will continue to drive the e-commerce boom. This is because people are choosing to stay indoors again, which in turn would boost demand for cloud computing, gaming, e-sports, streaming services as well as online shopping. Additionally, investors will continue to pile up software shares which are apparently more insulated from the impacts of the virus.

Below, we have highlighted some ETFs from these corners of the investing world. Investors should note that these are hitting new highs lately:

Cloud Computing

As people at large and companies across sectors are working remotely, cloud-based platforms and services have become essential. Cloud computing has encouraged video conferencing, gaming, e-commerce, remote project collaboration, online classes, and other programs. As such, Global X Cloud Computing ETF CLOUFirst Trust ISE Cloud Computing Index Fund (SKYY - Free Report)WisdomTree Cloud Computing Fund WCLD, and Wedbush ETFMG Global Cloud Technology ETF IVES could be exciting plays.

Video Streaming

Global streaming services are witnessing a huge surge in online viewership thanks to the rapid adoption of esports and increased video game usage. Investors could tap this trend through VanEck Vectors Video Gaming and eSports ETF ESPOETFMG Video Game Tech ETF (GAMR - Free Report)Global X Video Games & Esports ETF (HERO - Free Reportand Roundhill BITKRAFT Esports & Digital Entertainment ETF NERD.

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Moon Kil Woong 3 months ago Contributor's comment

You'd think there would be a Covid cure / medication ETF.