For investors seeking momentum, First Trust Nasdaq Pharmaceuticals ETF (FTXH Quick QuoteFTXH - Free Report) is probably on radar. The fund just hit a 52-week high and is up 17% from its 52-week low of $23.87 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:

FTXH in Focus

First Trust Nasdaq Pharmaceuticals ETF is designed to provide exposure to U.S. companies within the pharmaceuticals industry. It charges 60 bps in annual fees (see: all the Healthcare ETFs here).

Why the Move?

The healthcare corner of the broad investing world has been an area to watch lately, given the bouts of volatility and uncertainty on the stock market. This is because the sector’s non-cyclical nature provides a cushion to the portfolio amid volatile market conditions.

More Gains Ahead?

Currently, FTXH has a Zacks ETF Rank #3 (Hold). Therefore, it is hard to get a handle on its future returns one way or the other. However, many of the segments 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.