Investors seeking momentum may have iShares Residential and Multisector Real Estate ETF (REZ Quick QuoteREZ - Free Report) on radar now. The fund recently hit a new 52-week high. Shares of REZ are up approximately 39.5% from their 52-week low of $60.64/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.

REZ In Focus

The underlying FTSE NAREIT All Residential Capped Index measures the performance of the residential, healthcare and self-storage real estate sectors of the U.S. equity market. The fund charges 48 bps in fees.

Why The Move?

The Fed might cut rates in September due to the cooling in inflation reading as well as in the labor market data. Since real estate sector is rate-sensitive in nature, a dovish Fed move should go in favor of the ETF.

More Gains Ahead?

The fund has a positive weighted alpha of 26.95. So, there is a decent outlook ahead for those who want to ride this surging ETF a shade further.