For investors seeking momentum, Vanguard Information Technology ETF (VGT - Free Report) is probably on radar. The fund just hit a 52-week high, and is up about 46% from its 52-week low price of $267.46/share.
But are more gains in store for this ETF? Let’s take a quick look at the fund and the near-term outlook on it to get a better idea on where it might be headed:
VGT in Focus
This ETF offers exposure to U.S. informational technology stocks with key holdings in industries like systems software, technology hardware storage & peripheral, semiconductors, and data processing & outsourced services. It charges investors 10 basis points in fees (see: all the Technology ETFs here).
Why the Move?
The technology corner of the broad U.S. stock market has been an area to watch lately given investors’ confidence in economic recovery. The Federal Reserve Chair Jerome Powell, testifying before Congress yesterday, gave further boost to growth investing. Powell reiterated that rising inflation is due to transitory or temporary factors. The central bank would not increase interest rates to curb inflation, but will instead prioritize a "broad and inclusive" recovery of the job market. Lower interest rates bode well for the technology sector.
More Gains Ahead?
Currently, VGT has a Zacks ETF Rank #2 (Buy) with a Medium risk outlook, suggesting continued outperformance in the months ahead. Further, many of the segments that make up this ETF have a strong Zacks Industry Rank. So, there is definitely some promise for those who want to ride this surging ETF a little further.
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 >>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
For investors seeking momentum, Vanguard Information Technology ETF (VGT - Free Report) is probably on radar. The fund just hit a 52-week high, and is up about 46% from its 52-week low price of $267.46/share.
But are more gains in store for this ETF? Let’s take a quick look at the fund and the near-term outlook on it to get a better idea on where it might be headed:
VGT in Focus
This ETF offers exposure to U.S. informational technology stocks with key holdings in industries like systems software, technology hardware storage & peripheral, semiconductors, and data processing & outsourced services. It charges investors 10 basis points in fees (see: all the Technology ETFs here).
Why the Move?
The technology corner of the broad U.S. stock market has been an area to watch lately given investors’ confidence in economic recovery. The Federal Reserve Chair Jerome Powell, testifying before Congress yesterday, gave further boost to growth investing. Powell reiterated that rising inflation is due to transitory or temporary factors. The central bank would not increase interest rates to curb inflation, but will instead prioritize a "broad and inclusive" recovery of the job market. Lower interest rates bode well for the technology sector.
More Gains Ahead?
Currently, VGT has a Zacks ETF Rank #2 (Buy) with a Medium risk outlook, suggesting continued outperformance in the months ahead. Further, many of the segments that make up this ETF have a strong Zacks Industry Rank. So, there is definitely some promise for those who want to ride this surging ETF a little further.
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 >>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
Get the latest research report on VGT - FREE