For investors seeking momentum, Sprott Uranium Miners ETF ETF (URNM Quick QuoteURNM - Free Report) is probably on radar. The fund just hit a 52-week high and is up 11% from its 52-week low price of $54.00/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:

URNM in Focus

Sprott Uranium Miners ETF provides exposure to companies that devote at least 50% of their assets to the uranium mining industry, which may include mining, exploration, development and production of uranium, or holding physical uranium, owning uranium royalties, or engaging in other, non-mining activities that support the uranium mining industry. The product charges 85 bps in annual fees (see: all the Materials ETFs here).

Why the Move?

The Uranium mining sector has been an area to watch lately, given that the new uranium bull market is underway. An increased number of countries across the globe are planning to turn back on nuclear reactors in the face of a growing energy crisis.

More Gains Ahead?

Currently, URNM might remain strong despite higher 20-day volatility of 245.5%. As a result, there is definitely still some promise for risk-aggressive investors, who want to ride on this surging ETF.