For investors seeking momentum, Direxion Daily 20+ Year Treasury Bull 3x Shares ETF (TMF Quick QuoteTMF - Free Report) is probably on their radar now. The fund just hit a 52-week high, and is up about 81% from its 52-week low price of $64.26 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:

TMF in Focus    

The fund seeks to replicate daily investment results three times (3x) of the performance of the ICE U.S. Treasury 20+ Year Bond Index. Funds with leveraged factor tacked on them provide outsized returns in a very short period of time. The fund has AUM of over $74.5 million and average daily volume of around 177,000 shares. The product charges 95 bps in expense ratio (see: all Leveraged Bond ETFs here).

Why the Move?

The Treasury corner of the fixed income world has been an area to watch lately as investors are flocking to safe havens once again amid spiraling woes. This is especially true with U.K. surprising the world by voting in favor of leaving the EU. Apart from this, renewed worries about the health of the global economy and reduced expectation of a rate hike anytime soon will keep the appeal of treasury alive in the coming months.

More Gains Ahead?

It seems that this fund might remain strong given a high weighted alpha of 78.40% and a mediocre 20-day volatility of 43.70%. As a result, there is still some promise for investors who want to ride on this surging ETF.

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 >>