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Mid-Cap Growth ETF (VOT) Hits a New 52-Week High
For investors looking for momentum, Vanguard Mid-Cap Growth ETF (VOT - Free Report) is probably a suitable pick. The fund just hit a 52-week high and is up 42.1% from its 52-week low of $171.02/share.
Let’s take a look at the fund and its near-term outlook to gain an insight into where it might be headed:
VOT in Focus
The fund seeks to track the performance of the CRSP US Mid Cap Growth Index. It has AUM of $11.49 billion and charges 7 basis points in annual fees.
Why the Move?
Market participants are upbeat about the impressive second-quarter 2021 earnings results and the rebounding U.S. economy from the coronavirus led-slump. However, rising new delta variant cases are increasing concerns about the sustainability of the economy and earnings growth. Considering the mixed sentiments, mid-cap funds are gaining increased attention as they provide both growth and stability in comparison to the small-cap and large-cap counterparts.
More Gains Ahead?
The fund has a Zacks ETF Rank #2 (Buy). It seems like VOT will remain strong, with a positive weighted alpha of 35.11, which gives cues of further rally.