For investors seeking momentum, Amplify Seymour Cannabis ETF (CNBS Quick QuoteCNBS - Free Report) is probably on radar. The fund just hit a 52-week high and is up 265% from its 52-week low of $6.48 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.

CNBS in Focus

CNBS is actively managed ETF offering exposure in the fast-developing global cannabis industry. It invests 80% of its assets in securities of companies with 50% or more of their revenues from the cannabis and hemp ecosystem. The fund charges 75 bps in annual fees (see: all the World ETFs here).

Why the Move?

The cannabis industry has been an area to watch lately given their outperformance last week. A slew of financing deals and strong earnings reports have added further fuel in the surging pot stocks. These stocks have been on a tear following the Democratic victories in Georgia’s two runoff elections that have spurred hopes for near-term decriminalization and the growing adoption of marijuana in more states.

More Gains Ahead?

It seems that CNBS might remain strong given a high weighted alpha of 118.85 and a low 20-day volatility of 49.25%. As a result, there is definitely still some promise for risk-aggressive investors who want to ride on this surging ETF.

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