Investors seeking momentum may have First Trust NASDAQ Technology Dividend ETF (TDIV Quick QuoteTDIV - Free Report) on radar now. The fund recently hit a new 52-week high. Shares of TDIV are up approximately 40.3% from their 52-week low of $41.54/share.

But could there be more gains ahead for this ETF? Let’s take a look at the fund and the near-term outlook to get a better idea of where it might be headed.

TDIV in Focus

The NASDAQ Technology Dividend Index includes up to 100 Technology and Telecommunications companies that pay a regular or common dividend. The expense ratio is 0.50%.

Why the move?

The dovish Fed minutes dragged down the treasury yields lately, which benefitted tech stocks as these are high-growth in nature. Moreover, fears of delta variant of COVID-19 are also causing higher demand for the tech stocks as these are winning ones amid the stay-at-home trend. Plus, the sector has solid long-term potential. If this was not enough TDIV yields 1.83% currently, which is slightly higher than the benchmark U.S. treasury yield.

More Gains Ahead?

The fund a positive weighted alpha of 34.21. So, there is a decent outlook ahead for those who want to ride this surging ETF a shade further.

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