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Healthcare ETF (VHT) Hits a New 52-Week High
For investors seeking momentum, Vanguard Health Care ETF (VHT - Free Report) is probably on radar. The fund just hit a 52-week high, and is up about 30% from its 52-week low price of $194.51/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:
VHT in Focus
This fund targets the broad healthcare space with key holdings in pharma, healthcare equipment, biotechnology and managed healthcare. The fund charges investors 10 basis points a year in fees (see: all the Healthcare ETFs here).
Why the Move?
The broad healthcare sector has been an area to watch lately given the resurgence in COVID-19 infections due to new Delta variant. This has made investors jittery, compelling them to tilt their portfolio to defensive investments. Additionally, the sector has been benefiting from COVID-19 vaccines or treatment with many more to come.
More Gains Ahead?
Currently, VHT has a Zacks ETF Rank #1 (Strong 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.