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Broad Market ETF (ITOT) Hits New 52-Week High

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For investors seeking momentum, iShares Core S&P Total U.S. Stock Market ETF (ITOT - Free Report) is probably on radar. The fund just hit a 52-week high and is up roughly 25.6% from its 52-week low price of $58.25/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:

ITOT in Focus

ITOT provides exposure to the total U.S. stock market, ranging from some of the smallest to the largest companies. It has key holdings in information technology, healthcare and financials. The product charges 3 basis points in fees (see: all the Cap Blend ETFs here).

Why the Move?

The U.S. stock market has been an area to watch lately given that the major bourses are scaling new highs overplaying all the hurdles. The S&P 500 and the Nasdaq hit new all-time highs after President Donald Trump’s comments on the Iran conflict eased fears of an all-out conflict in the Middle East.

More Gains Ahead?

Currently, ITOT has a Zacks ETF Rank #2 (Buy) with a Medium risk outlook, suggesting continued outperformance in the months ahead. Further, many of the segments 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.

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