5 Best AI ETFs To Invest In 2024

Page 5 of 5

1. Invesco AI and Next Gen Software ETF (NYSE:IGPT)

YTD Share Price Gain as of March 8: 23.49%

Invesco AI and Next Gen Software ETF (NYSE:IGPT) tracks the performance of the STOXX World AC NexGen Software Development Index, which includes companies with substantial exposure to technologies contributing to future software development. The ETF, established on June 23, 2005, and rebalanced quarterly, has a net expense ratio of 0.60%. As of March 7, 2024, its portfolio comprises 100 stocks. Invesco AI and Next Gen Software ETF (NYSE:IGPT) ranks 1st on our list of the best AI ETFs. 

QUALCOMM Incorporated (NASDAQ:QCOM) is one of the top holdings of Invesco AI and Next Gen Software ETF (NYSE:IGPT). It is a global technology company focusing on the development and commercialization of foundational wireless technologies. On March 5, QUALCOMM Incorporated (NASDAQ:QCOM) declared a $0.85 per share quarterly dividend, a 6.3% increase from its prior dividend of $0.80. The dividend increase will take effect for quarterly dividends paid after March 21, 2024, resulting in an annualized dividend payout of $3.40 per share.

According to Insider Monkey’s fourth quarter database, 78 hedge funds were bullish on QUALCOMM Incorporated (NASDAQ:QCOM), compared to 67 funds in the prior quarter. John Overdeck and David Siegel’s Two Sigma Advisors is a prominent stakeholder of the company, with nearly 3 million shares worth $431.4 million. 

Madison Sustainable Equity Fund stated the following regarding QUALCOMM Incorporated (NASDAQ:QCOM) in its fourth quarter 2023 investor letter:

“QUALCOMM Incorporated (NASDAQ:QCOM) also reported a solid fourth fiscal quarter with better than expected results. The company guided the first quarter ahead of expectations despite headwinds from Samsung as the inventory headwinds dissipate. Qualcomm remains well positioned in the mobile handset market and should benefit as Artificial Intelligence moves to edge devices which could drive an upgrade cycle.”

Follow Qualcomm Inc (NASDAQ:QCOM)

Insider Monkey focuses on uncovering the best investment ideas of hedge funds and insiders. Please subscribe to our free daily enewsletter to get the latest investment ideas from hedge funds’ investor letters by entering your email address below. You can also check out 13 Oil Stocks with Biggest Upside and 12 Best Space Stocks To Buy According To Hedge Funds.

Page 5 of 5