For investors seeking momentum, First Trust Natural Gas ETF (FCG Quick QuoteFCG - Free Report) is probably on the radar. The fund just hit a 52-week high and is up about 136% from its 52-week low price of $12.10/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 on where it might be headed:

FCG in Focus

First Trust ISE-Revere Natural Gas Index Fund offers exposure to U.S. companies involved in the exploration and production of natural gas. It charges investors 60 basis points a year in fees (see: all the Energy ETFs here).

Why the Move?

The energy sector has been an area to watch lately, given the oil price surge. Oil resumed its strength and reached its highest levels since March. The rally is driven by the easing of COVID-19 restrictions in China and the European Union agreement to ban 90% of Russian crude by the end of the year. The dual news will continue to bolster demand and exacerbate worries over the already tightening supply.

More Gains Ahead?

Currently, FCG has a Zacks ETF Rank #2 (Buy) with a High-risk outlook, suggesting that the outperformance could continue in the months ahead. However, many spaces that make up this ETF have a strong Zacks Industry Rank. So, there is definitely some promise for those who want to ride this surging ETF a little further.