For investors seeking momentum, iShares MSCI Intl Momentum Factor ETF (IMTM Quick QuoteIMTM - Free Report) is probably on the radar. The fund just hit a 52-week high and is up 18% from its 52-week low of $34.65 per share. 

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:

IMTM in Focus

iShares MSCI Intl Momentum Factor ETF provides exposure to large- and mid-cap developed international stocks exhibiting relatively higher price momentum. It charges 30 bps in annual fees (see: all the Foreign Large Blend ETFs here).

Why the Move?

The momentum corner of the international market has been an area to watch lately, given the rally in global stocks. The signs of easing trade tensions between China and the United States have spread strong optimism across the world stock market. Momentum investing aims to capitalize on the continuation of an existing market trend. It looks to fetch profits from buying hot stocks that have shown an uptrend over the past few weeks or months.

More Gains Ahead?

Currently, IMTM has a Zacks ETF Rank #3 (Hold) with a High risk outlook. Therefore, it is hard to get a handle on its future returns one way or the other. However, IMTM might remain strong, given its weighted alpha of 8.91 and a lower 20-day volatility of 40.81%. There is definitely still some promise for investors who want to ride on this surging ETF.