For investors seeking momentum, PowerShares DWA Technology Momentum Portfolio (PTF Quick QuotePTF - Free Report) is probably on radar now. The fund just hit a 52-week high, and is up roughly 10.6% from its 52-week low price of $38.20/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:

PTF in Focus    

This fund provides exposure to companies that are showing relative strength (momentum). Holding 46 stocks in the basket, it is well diversified across components with none holding more than 4.7% share. It is a large cap centric fund with key holdings in semiconductor & semiconductor equipment, software and Internet software and services. The product charges 60 bps 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 string of robust results from tech heavy players like International Business Machines (IBM Quick QuoteIBM - Free Report) , Netflix (NFLX Quick QuoteNFLX - Free Report) , Microsoft (MSFT Quick QuoteMSFT - Free Report) , Apple (AAPL Quick QuoteAAPL - Free Report) and Facebook . Additionally, the inclusion of momentum stocks in the ETF is making it appealing for investors at present.

More Gains Ahead?

Currently, PTF has a Zacks ETF Rank of 3 or ‘Hold’ rating with a High risk outlook. Therefore, it is hard to get a handle on its future returns in 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.

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