For investors seeking momentum, ProShares S&P 500 Dividend Aristocrats ETF (NOBL Quick QuoteNOBL - Free Report) is probably on radar. The fund just hit a 52-week high, and is up about 25% from its 52-week low price of $78.05 per 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:

NOBL in Focus

ProShares S&P 500 Dividend Aristocrats ETF focuses exclusively on the S&P 500 Dividend Aristocrats — high-quality companies that have not just paid dividends but grown them for at least 25 consecutive years, with most doing so for 40 years or more. It has key holdings in consumer staples, industrials and materials that account for double-digit exposure each. ProShares S&P 500 Dividend Aristocrats ETF charges investors 35 basis points a year in fees (see: all the Large Cap Value ETFs here).

Why the Move?

The dividend corner of the broad investing world has been an area to watch lately given that it is a major source of consistent income for investors in any type of market. The dividend-focused products offer safety through payouts, and stability in the form of mature companies that are less volatile amid large swings in stock prices. This is because the companies that pay dividends act as a hedge against economic uncertainty and provide downside protection by offering outsized payouts or sizable yields regularly.

More Gains Ahead?

Currently, NOBL has a Zacks ETF Rank #3 (Hold) with a Medium risk outlook. Therefore, it is hard to get a handle on its future returns one way or the other. However, many of the segments that make up this ETF have a strong Zacks Industry Rank. So, there is definitely some promise for those who want to ride this surging ETF a little further.