Investors seeking momentum may have WisdomTree U.S. SmallCap ETF (EES Quick QuoteEES - Free Report) on radar now. The fund recently hit a new 52-week high. Shares of EES are up approximately 66.7% from their 52-week low of $30.85/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.

EES In Focus

The underlying WisdomTree U.S. SmallCap Index is a fundamentally weighted index that measures the performance of earnings-generating companies within the small-capitalization segment of the U.S. Stock Market. The fund charges 38 bps in fees.

Why The Move?

The small-cap benchmark Russell 2000 rallied about 2.6% on Nov 1 for its best day since Aug 27. After a tough September in which the S&P 500 fell more than 4%, the benchmark jumped nearly 7% last month. Upcoming holiday season and upbeat sentiments in the market led to the rally. The Q3 earnings season for the S&P 600 is expected to be upbeat with 44.4% earnings gain (following 280% gains in Q2) on 16.1% revenue gain (over above 34.4% increase in Q2).

More Gains Ahead?

The fund has a positive weighted alpha of 48.52. So, there is a decent outlook ahead for those who want to ride this surging ETF a shade further.