Vanguard Russell 1000 ETF – an ETF of Choice to Play in Post-Debt-Ceiling-Vote Market Recovery

Jun 02, 2023
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Several high-profile growth-focused exchange traded funds climbed to new 52-week highs on Tuesday. This came as the Nasdaq Composite (^COMP) pushed higher after an agreement was reached over the U.S. debt ceiling. Now, as fears of the worst scenario for the U.S. debt ceiling increase is all but gone, and markets are expected to boost their morale quickly, it’s essential to select the most promising sentiment recovery plays, and here’s one of them:

Vanguard Russell 1000 ETF (VONE) is an exchange traded fund launched and managed by The Vanguard Group. It invests in the U.S. equities – stocks of companies operating across diversified sectors. The fund invests in growth and value stocks of large-cap companies. It seeks to track the performance of the Russell 1000 Index, by using a full replication technique. Vanguard Scottsdale Funds – Vanguard Russell 1000 ETF was formed on September 20, 2010.

Three of VONE's underlying holdings with notable upside to their analyst target prices are Liberty Media Corp – SiriusXM Group (LSXMA), Guardant Health Inc (GH), and Liberty Broadband Corp (LBRDK). Although LSXMA has traded at a recent price of $27.98/share, the average analyst target is 103.27% higher at $56.88 a share. Similarly, according to Nasdaq.com, GH has over 80% upside from the recent share price of $29.32 if the average analyst target price of $52.93 a share is reached, and analysts on average are expecting LBRDK to reach a target price of $131.40 a share, which is 77.33% above the recent price of $74.10.

According to MarketBeat, several top investment companies and hedge funds recently modified their holdings of VONE. JPMorgan Chase & Co. boosted its holdings in shares of Vanguard Russell 1000 Growth ETF by a whopping 23.8% during the 1st quarter. JPMorgan Chase & Co. now owns 101,172 shares of the company's stock worth $7,219,000 after buying an additional ~19,400 shares during the period. Blair William & Co. IL also boosted its holdings in Vanguard Russell 1000 Growth ETF by 11.6% during the same period, according to the company in its most recent 13F filing with the Securities & Exchange Commission. With VONE trading at a recent price near $189.59 per unit, that means that analysts see 14.12% upside for this ETF looking through to the average analyst targets of the underlying holdings.