For investors seeking momentum, SPDR Dow Jones Industrial Average ETF (DIA Quick QuoteDIA - Free Report) is probably on radar. The fund just hit a 52-week high, and is up 73% from its 52-week low price of $182.10 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:

DIA in Focus

DIA is one of the largest and most-popular ETFs in the large-cap space. It holds 30 blue chip stocks with key holdings in information technology, healthcare, industrials, financials, and consumer discretionary that account for a double-digit exposure each. It charges investors 16 basis points a year in fees (see: all the Large Cap Value ETFs here).

Why the Move?

The large-cap segment of the broad U.S. stock market has been an area to watch as the Dow Jones has been hitting a series of record highs lately. The rally came on the back of renewed optimism over speedy economic recovery from the pandemic-driven recession. A massive fiscal relief package, signs of a healing labor market, continued progress in more vaccines and a rapid vaccination has rekindled investors’ appetite for riskier assets.

More Gains Ahead?

Currently, DIA has a Zacks ETF Rank #2 (Buy) with a Medium risk outlook, suggesting that the outperformance could continue in the months ahead. 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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