For investors seeking momentum, Invesco Dynamic Food & Beverage ETF (PBJ Quick QuotePBJ - Free Report) is probably on the radar. The fund just hit a 52-week high and is up 19% from its 52-week low price of $40.05/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:

PBJ in Focus

Invesco Dynamic Food & Beverage ETF offers exposure to U.S. food and beverage companies that are principally engaged in the manufacture, sale or distribution of food and beverage products, agricultural products and products related to the development of new food technologies. It charges 57 bps in annual fees (see: all the Consumer Staples ETFs here).

Why the Move?

The consumer staples segment of the broad investing world has been an area to watch lately, given the uncertainty surrounding the timing of the Fed rate cuts. The consumer staples sector is viewed as defensive as it includes a variety of items like food & beverages, non-durable household goods, hypermarkets and consumer supercenters that are essential for daily needs.

More Gains Ahead?

Currently, PBJ has a Zacks ETF Rank #3 (Hold) with a Medium risk outlook. 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.