For investors seeking momentum, iShares Evolved U.S. Technology ETF IETC is probably on their radar now. The fund just hit a 52-week high and is up roughly 72% from its 52-week low price of $30.70/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:

IETC in Focus

This active ETF employs data science techniques to provide exposure to the technology stocks. It has key holdings in software and services, media & entertainment, technology hardware & equipment as well as semiconductors & semiconductor equipment. The product charges 18 basis points in fees per year (see: all the Technology ETFs here).

Why the Move?

The technology corner of the broad U.S. stock market has been an area to watch lately, given the pause in Johnson & Johnson's JNJ COVID-19 vaccine. The setback sparks fears of a broader economic rebound, backed by wider and rapid vaccine distribution, prompting investors to rotate out of stocks poised to profit from a post-pandemic economic recovery and into companies that could benefit from a slower vaccine rollout.

More Gains Ahead?

It seems that IETC might remain strong on a weighted alpha of 58.64 and a 20-day volatility of 20.97%. As a result, there is definitely still some promise for the risk-aggressive investors who want to ride on this rallying ETF.

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 >>

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
 
To read this article on Zacks.com click here.