For investors looking for momentum, iShares International Dividend Growth ETF (IGRO Quick QuoteIGRO - Free Report) is probably a suitable pick. The fund just hit a 52-week high and is up 45.5% from its 52-week low price of $47.44/share.

Let’s take a look at the fund and its near-term outlook to gain an insight into where it might be headed:

IGRO in Focus

This ETF seeks to track the investment results of an index composed of international equities, with a history of consistently growing dividends and tracks the Morningstar Global ex-US Dividend Growth Index. It has AUM of $220.4 million and charges 15 basis points in annual fees.

Why the Move?

The coronavirus pandemic had sparked fears of a global economic recession among investors as the outbreak had disrupted global supply chains followed by the shutdown of economic activities. However, reopening of global economies and coronavirus vaccine rollout are instilling optimism among investors. This is making funds like IGRO an attractive investment option.

More Gains Ahead?

It seems like the fund will remain strong, with a positive weighted alpha of 36.06, which gives cues of further rally.

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