For investors seeking momentum, Innovator Growth-100 Power Buffer ETF (NJUL Quick QuoteNJUL - Free Report) is probably on radar. The fund just hit a 52-week high and is up about 17% from its 52-week low price of $40.96/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:

NJUL in Focus

The Innovator Growth-100 Power Buffer ETF seeks to track the return of the Invesco QQQ Trust (QQQ Quick QuoteQQQ - Free Report) , up to a predetermined cap, while buffering investors against the first 15% of losses over the outcome period. The Innovator Growth-100 Power Buffer ETF charges investors 79 bps a year in fees (see: all the Defined Outcome ETFs here).

Why the Move?

The defined outcome corner of the broad ETF investing world has been an area to watch lately, given the bouts of volatility and uncertainty in the stock market. Innovator Defined Outcome ETFs allow investors to take advantage of market growth while maintaining defined levels of buffers against loss.

More Gains Ahead?

Currently, NJUL might remain strong given a weighted alpha of 7.75 and higher 20-day volatility of 12.18%. As a result, there is definitely still some promise for investors, who want to ride on this surging ETF.