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Large-Cap ETF (VOO) Hits New 52-Week High
For investors seeking momentum, Vanguard S&P 500 ETF (VOO - Free Report) is probably on the radar. The fund just hit a 52-week high and is up 26% from its 52-week low of $349.76 per 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 of where it might be headed:
VOO in Focus
Vanguard S&P 500 ETF offers exposure to large-cap equities. It has key holdings in information technology, consumer discretionary, health care and industrials. Vanguard S&P 500 ETF charges 3 bps in annual fees (see: all the Large-Cap Blend ETFs here).
Why the Move?
The large-cap corner of the broad investing world has been an area to watch lately, with the stock market regaining momentum despite hotter-than-expected inflation data. Though the data has dampened market expectations about interest rate cuts as soon as March, the U.S. stock market has managed to stay afloat.
More Gains Ahead?
Currently, VOO has a Zacks ETF Rank #2 (Buy) with a Medium risk outlook, suggesting that the outperformance could continue in the months ahead. Many spaces 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.