For investors seeking momentum, Vanguard MidCap Growth ETF (VOT Quick QuoteVOT - Free Report) ) is probably on radar. The fund just hit a 52-week high and is up 104.4% from its 52-week low price of $106.07 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:

VOT in Focus

This fund offers exposure to U.S. mid-cap stocks with growth characteristics. The fund charges 7 basis points in annual fees (see all Mid Cap Growth ETFs here).

Why the Move?

The mid-cap space of the broad U.S. stock market has been an area to watch lately given the soaring stock market as well as recovering economies from the COVID-related slump. While vaccine optimism and easy monetary and fiscal policies are a plus for the economies and markets, the emergence of a new strain of virus is a concern. In this scenario, mid-cap funds offer the best of both worlds — small-cap’s growth and large-cap’s stability. Also, interest rates in the United States likely to remain low for a decent period of time, which should favor overall growth investing.

More Gains Ahead?

The fund has a Zacks Rank #1 (Strong Buy). As a result, there is still some promise for aggressive investors who want to ride on this surging ETF.

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