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Real Estate ETF (VNQ) Hits New 52-Week High
For investors seeking momentum, Vanguard Real Estate ETF (VNQ - Free Report) is probably on radar. The fund just hit a 52-week high and is up 38.3% from its 52-week low price of $81.23/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:
VNQ in Focus
The underlying MSCI US Investable Market Real Estate 25/50 Index is made up of stocks of large, mid-size, and small U.S. companies within the real estate sector. VNQ charges 12 basis points in annual fees.
Why the Move?
The ETFs on the U.S. real estate sector has been surging lately on still-low rates. Bets that the new COVID-19 variant Omicron may cause milder illness than previously feared, fears over further lockdowns have been eased. Investors’ renewed confidence in the real estate sector has also been noticed.
More Gains Ahead?
Currently, VNQ has a Zacks ETF Rank #1 (Strong Buy) with a Medium risk outlook, suggesting continued outperformance in the months ahead.