For investors seeking momentum, iShares Edge MSCI USA Momentum Factor ETF (MTUM Quick QuoteMTUM - Free Report) is probably on radar now. The fund just hit a 52-week high and is up about 26.8% from its 52-week low price of $90.67/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 on where it might be headed:

MTUM in Focus

MTUM provides exposure to large and mid-cap U.S. stocks exhibiting a relatively higher price momentum. Holding 124 stocks in its basket, it is pretty well spread across components, with none holding more than 5.7% share. The fund has key holdings in information technology at 41.5% while consumer discretionary, financials and industrials round of the next spots with double-digit exposure each. It charges 15 basis points in annual fees (see: all the Large Cap ETFs here).

Why the Move?

The momentum corner of the broad U.S. stock market has been an area to watch given signs of easing trade tensions and optimism surrounding solid Q2 corporate earnings. Additionally, historic tax cuts and accelerating economy are also infusing strong confidence in the economy, leading to rise in the stock market.

More Gains Ahead?

It seems that MTUM might remain strong given a high weighted alpha of 23.90% and a low 20-day volatility of 9.87%. As a result, there is definitely still some promise for investors who want to ride on this surging ETF a little further.

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