For investors seeking momentum, iShares Morningstar Mid-Cap Growth ETF (IMCG Quick QuoteIMCG - Free Report) is probably on radar. The fund just hit a 52-week high and is up 27.6% from its 52-week low price of $48.44/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:

IMCG in Focus

iShares Morningstar Mid-Cap Growth ETF provides exposure to mid-sized U.S. companies whose earnings are expected to grow at an above-average rate relative to the market. It has key holdings in industrials, information technology, healthcare and consumer discretionary. iShares Morningstar Mid-Cap Growth ETF charges investors 6 bps a year in fees (see: all the Mid-Cap Growth ETFs here).

Why the Move?

The mid-cap corner of the broad investing world has been an area to watch lately, given the volatility and uncertainty in the stock market triggered by the return of rate hike bets. 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, IMCG has a Zacks ETF Rank #2 (Buy), 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.