For investors seeking momentum, Vanguard Information Technology ETF (VGT Quick QuoteVGT - Free Report) is probably on radar now. The fund just hit a 52-week high, and is up over 49.5% from its 52-week low price of $77.11 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 on where it might be headed:

VGT in Focus    

VGT focuses on the technology segment of the U.S. market. The fund has a large cap focus with key holdings in Internet software and services, technology hardware, and systems software segments. VGT charges investors 10 basis points a year in fees and has top holdings in Apple, Alphabet, and Microsoft (see all technology ETFs here).

Why the Move?

The technology sector has been performing satisfactorily lately on a slew of positive earnings from some industry behemoths. Especially, the fund got a boost from impressive earnings from Apple (AAPL) and may continue to see great times ahead from a stellar result from Facebook (FB) too.

More Gains Ahead?

The fund currently has a Zacks ETF Rank #2 (Buy). Also, it seems that this fund can be exercised a little further as evident by the positive weighted alpha of 9.91. A positive weighted alpha hints at more gains.

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