For investors seeking momentum, iShares Select Dividend ETF (DVY Quick QuoteDVY - Free Report) is probably on radar. The fund just hit a 52-week high, and is up 19.5% from its 52-week low of $111.53 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 of where it might be headed:

DVY in Focus

The underlying Dow Jones U.S. Select Dividend Index measures the performance of a selected group of equity securities issued by companies that have provided relatively high dividend yields on a consistent basis over time. The ETF charges 38 basis points in fees and yields 2.93% annually.

Why the Move?

The global market is currently at a critical juncture right now due to the pandemic-driven supply-chain woes and the Russia-Ukraine war. With a number of deterrents doing the rounds in the market, it is wise to look for value while picking stocks and ETFs. Since we know that a dividend investing acts as a safe bet in a rough market, DVY has every reason to rally. DVY’s high yield is also an attraction in the current rising rate environment.

More Gains Ahead?

The fund has a positive weighted alpha of 8.90. So, there is a decent outlook ahead for those who want to ride this surging ETF a shade further.