For investors looking for momentum, Vanguard Information Technology ETF (HN:VGT) is probably a suitable pick. The fund just hit a 52-week high, up roughly 49.1% from its 52-week low of $154.72/share.
But does it have more gains in store? Let’s take a look at the fund and its near-term outlook to gain an insight into where it might be headed:
VGT in Focus
The fund seeks to track the performance of a benchmark index that measures the investment return of stocks in the information technology sector. VGT is charging 10 bps in fees. The fund has amassed $23.01 billion in AUM.
Why the Move?
Wall Street continues to soar on Sino-U.S. trade war talks, release of some encouraging U.S. economic data and a decent earnings season so far. In such a scenario, funds with exposure to riskier sectors like information technology are gaining popularity among investors.
More Gains Ahead?
Currently, VGT has a Zacks Rank #1 (Strong Buy). Moreover, it seems VGT might remain strong given a positive weighted alpha of 28.1.
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Vanguard Information Technology ETF (VGT): ETF Research Reports
Original post
Zacks Investment Research