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Information Technology ETF (VGT) Hits New 52-Week High

Sweta Jaiswal, FRM

For investors looking for momentum, Vanguard Information Technology ETF VGT is probably a suitable pick. The fund just hit a 52-week high, up roughly 49.1% from its 52-week low of $154.72/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:

VGT in Focus

The fund seeks to track the performance of a benchmark index that measures the investment return of stocks in the information technology sector. VGT is charging 10 bps in fees. The fund has amassed $23.01 billion in AUM.

Why the Move?

Wall Street continues to soar on Sino-U.S. trade war talks, release of some encouraging U.S. economic data and a decent earnings season so far. In such a scenario, funds with exposure to riskier sectors like information technology are gaining popularity among investors.

More Gains Ahead?

Currently, VGT has a Zacks Rank #1 (Strong Buy). Moreover, it seems VGT might remain strong given a positive weighted alpha of 28.1.

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Vanguard Information Technology ETF (VGT): ETF Research Reports
 
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