For investors seeking momentum, Sprott Uranium Miners ETF (URNM Quick QuoteURNM - Free Report) is probably on the radar. The fund just hit a 52-week high and is up 61% from its 52-week low price of $28.22/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 involved in the mining, exploration, development and production of uranium, as well as companies that hold physical uranium or other non-mining assets. It charges investors 83 bps in annual fee (see: all the Materials ETFs here).

Why the Move?

The uranium segment of the broad materials sector has been an area to watch lately, given the soaring uranium prices. An upbeat demand forecast and lingering supply concerns amid the chances of sanctions affecting Russia's nuclear fuel supply are fueling the sector higher. A global renaissance in nuclear power added to the strength.

More Gains Ahead?

It seems that URNM might remain strong, given a higher weighted alpha of 59.38 and a low 20-day volatility of 27.92%. As a result, there is definitely still some promise for risk-aggressive investors who want to ride on this surging ETF.