Investors seeking momentum may have Pacer BioThreat Strategy ETF (VIRS Quick QuoteVIRS - Free Report) on radar now. The fund recently hit a new 52-week high. Shares of VIRS are up approximately 30.9% from their 52-week low of $26.97/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.

Pacer BioThreat Strategy ETF

The underlying LifeSci BioThreat Strategy Index comprises of U.S. listed stocks of companies whose products or services help protect against, endure, or recover from biological threats to human health. Pacer BioThreat Strategy ETF charges 70 bps in fees.

Why The Move?

The fear of the spread of Omicron variant of coronavirus has boosted the demand for virus-fighting assets. The ETF puts half of its assets in the Healthcare sector (54%), followed by consumer discretionary (13.7%) and information technology (10.4%). The likely surge in demand for vaccines and treatment have led investors to the healthcare investing lately, which boosted VIRS.

More Gains Ahead?

The fund has a positive weighted alpha of 25.55. So, there is a decent outlook ahead for those who want to ride this surging ETF a shade further.