For investors seeking momentum, S&P Mid-Cap 400 Value ETF (IVOV Quick QuoteIVOV - Free Report) is probably on radar. The fund just hit a 52-week high and is up about 26% from its 52-week low price of $138.76/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:

IVOV in Focus

S&P Mid-Cap 400 Value ETF targets the value segment of the mid-cap market. It has key holdings in financials, industrials, consumer discretionary, information technology    and real estate. S&P Mid-Cap 400 Value ETF charges investors 15 bps a year in fees (see: all the Mid-Cap Value ETFs here).

Why the Move?

The mid-cap corner of the broad investing world has been an area to watch lately, given the bouts of volatility and uncertainty in the stock market. While large companies are normally known for stability and the smaller ones for growth, mid-caps offer the best of both worlds, allowing growth and stability in a portfolio.

More Gains Ahead?

Currently, PXJ has a Zacks ETF Rank #1 (Strong Buy) with a Medium 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.