For investors seeking momentum, ELEMENTS Dogs Of The Dow Linked To The Dow Jones High Yield Select 10 Total Return Index is probably on radar now. The note just hit a 52-week high and is up more than 57% from its 52-week low price of $18.42/share.

But are more gains in store for this ETN? Let’s take a quick look at the product and the near-term outlook on it to get a better idea on where it might be headed:

DOD in Focus

This is an ETN option and provides investors pure play to the 10 highest dividend-yielding securities in Dow Jones Industrial Average in equal proportions. It charges investors 75 bps in annual fees (see: all the Large Cap ETFs here).

Why the Move?       

Since the Dow Jones index hit a 25,000-mark on Jan 4, the product soared higher. Strong manufacturing data, an oil price recovery, uptick in the global economic growth and a Trump bump led to this surge.

More Gains Ahead?

The ETN has a positive weighted alpha of 70.20. A positive weighted alpha hints at more gains. As a result, there is definitely some promise for investors who want to ride on this surging product.

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