For investors looking for momentum, Vanguard Long-Term Treasury ETF (VGLT Quick QuoteVGLT - Free Report) is probably a suitable pick. The fund just hit a 52-week high — up roughly 33.1% from its 52-week low of $73.31/share.

Let’s take a look at the fund and its near-term outlook to gain an insight into where it might be headed:

VGLT in Focus

The fund seeks to provide a high and sustainable level of current income and tracks the Bloomberg Barclays U.S. Long Treasury Bond Index. It charges 5 bps in fees and has an AUM of $2.32 billion  (see all Government Bond ETFs here).

Why the Move?

For the first time, the benchmark 10-year U.S. Treasury note yield has fallen below 1% on Mar 3. The declining yields were a result of investors’ flight for safety to bonds, as concerns over slowing global economic growth due to the coronavirus outbreak started escalating. The rapidly-aggravating concerns are making high-yielding fixed-income investments attractive.

More Gains Ahead?

The fund has a Zacks Rank #3 (Hold). However, It seems like the fund will remain strong with a positive weighted alpha of 29.50, which gives cues of further rally.

Want key ETF info delivered straight to your inbox?

Zacks’ free Fund Newsletter will brief you on top news and analysis, as well as top-performing ETFs, each week. Get it free>>