For investors seeking momentum, iShares Russell 3000 ETF (IWV Quick QuoteIWV - Free Report) is probably on radar. The fund just hit a 52-week high, and is up 58% from its 52-week low price of $156.37 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:

IWV in Focus

This fund provides broad exposure to a wide range of U.S. companies. It holds a well-diversified portfolio of 2881 stocks with a tilt toward information technology, which accounts for about one-fourth of the portfolio. Healthcare, consumer discretionary and financials round off the next three with double-digit exposure each. The ETF charges investors 20 basis points a year in fees (see: all the All-Cap Blend ETFs here).

Why the Move?

The broad U.S. stock market has been an area to watch lately given the optimism over speedy economic recovery from the pandemic-driven recession. Increasing pace of vaccination, progress toward more vaccines, reopening of the economy as well as new rounds of stimulus are fueling growth in the economy and bolstering risk-on trade.

More Gains Ahead?

Currently, IWV 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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