For investors seeking momentum, Vanguard S&P Mid-Cap 400 Growth ETF (IVOG Quick QuoteIVOG - Free Report) is probably a suitable pick. The fund just hit a 52-week high, up roughly 32.6% from its 52-week low of $110.97/share.

But does it have more gains in store? Let’s take a look at the fund and its near-term outlook to gain an insight into where it might be headed:

IVOG in Focus

The fund invests in stocks in the S&P MidCap 400 Growth Index, composed of the growth companies in the S&P 400. IVOG is charging 15 bps in fees. The fund has amassed $778 million in AUM.

Why the Move?

All the three major U.S. bourses are scaling new all-time highs. The Sino-US trade deal optimism and rounds of upbeat economic data are the major drivers behind the upside.  Notably, the world’s two largest economies, United States and China, recently announced agreeing on a phase-one trade deal. Within the trade pact, the United States has agreed to lower its 15% tariff to 7.5% on about $120 billion worth of Chinese goods. The country has also indefinitely suspended tariffs on roughly $160 billion of Chinese consumer goods, scheduled to be imposed on Dec 15. Moreover, the upbeat jobs report, positive U.S. housing data and encouraging manufacturing updates are hinting toward a healthier economy. These factors have raised the optimism among investors, making the fund an attractive pick.

More Gains Ahead?

Currently, IVOG has a Zacks Rank #1 (Strong Buy). Moreover, it seems IVOG might remain strong given a positive weighted alpha of 22.50.

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