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U.S. Equity ETF (VOO) Hits New 52-Week High

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For investors seeking momentum, Vanguard S&P 500 ETF (VOO - Free Report) is probably on radar. The fund just hit a 52-week high and is up 68% from its 52-week low price of $200.55/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:

VOO in Focus

VOO invests in stocks on the S&P 500 Index, representing 500 of the largest U.S. companies. It has key holdings in information technology, healthcare, consumer discretionary and communication services. The product charges 3 basis points in fees (see: all the Large Cap Blend ETFs here).

Why the Move?

The U.S. stock market has been an area to watch lately given that the major bourses are scaling new highs. The latest rally is being powered by vaccine optimism and its availability very soon. A vaccine is being viewed as an end to the pandemic crisis that could lead to a swift economic recovery and boost stocks.

More Gains Ahead?

Currently, VOO 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.

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