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Broad Market Equity ETF (VTI) Hits a New 52-Week High
For investors seeking momentum, Vanguard Total Stock Market ETF (VTI - Free Report) is probably on the radar. The fund just hit a 52-week high and is up 41.3% from its 52-week low price of $202.44/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:
VTI in Focus
Vanguard Total Stock Market ETF provides exposure to the broader stock market by tracking the CRSP US Total Market Index. It has key holdings in technology, consumer discretionary, industrials, healthcare and financials. VTI charges 3 bps in annual fees (see: all the Large Cap Blend ETFs here).
Why the Move?
The U.S. stock market has been an area to watch lately, given the surge in stock prices. U.S. stocks have been scaling new heights driven by encouraging third-quarter earnings and rate-cut optimism amid recession fears and geopolitical tensions.
More Gains Ahead?
Currently, VTI 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.