Growth ETF (VONG) Hits New 52-Week High
Investors seeking momentum may have Vanguard Russell 1000 Growth ETF (VONG) on radar now. The fund recently hit a new 52-week high. Shares of VONG are up approximately 61.7% from their 52-week low of $131.88/share.
But could there be more gains ahead for this ETF? Let’s take a look at the fund and the near-term outlook to get a better idea of where it might be headed.
VONG in Focus
The underlying Russell 1000 Growth Index measures the performance of large-capitalization growth stocks in the United States. Microsoft (10.4%), Apple (10.2%), Amazon (7.98%), Facebook (3.72%) and Alphabet (2.26%) take the top three spots in the fund. VONG charges investors 8 basis points in fee per year (see Style Box - Large Cap Growth here).
Why the move?
A dovish Fed and vaccine hopes have been boosting growth stocks and ETFs. Moreover, Apple, Amazon, Facebook and Alphabet came up with upbeat earnings results on Jul 30, pushing the fund further higher.
More Gains Ahead?
The fund has a positive weighted alpha of 35.30. So, there is a decent outlook ahead for those who want to ride this surging ETF a shade further.
Want key ETF info delivered straight to your inbox?
Zacks’ free Fund Newsletter will brief you on top news and analysis, as well as top-performing ETFs, each week. Get it free >>
Click to get this free report
Vanguard Russell 1000 Growth ETF (VONG): ETF Research Reports
To read this article on Zacks.com click here.
Zacks Investment Research
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.