For investors seeking momentum, VanEck Semiconductor ETF (SMH Quick QuoteSMH - Free Report) is probably on the radar. The fund just hit a 52-week high and has moved up 74.8% from its 52-week low price of $170.11 per share. 

But are there more gains in store for this ETF? Let us 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:

SMH in Focus

The MVIS US Listed Semiconductor 25 Index tracks the overall performance of companies involved in semiconductor production and equipment. SMH charges 35 bps in annual fees (see all Technology ETFs here).

Why the Move?

The semiconductor corner of the broad investing world has been an area to watch lately, given the AI boom. The rise in chip stocks has been fueled by overwhelming demand for AI-driven semiconductor chips. NVIDIA alone carries a roughly 20% weighting. NVDA stock gained about 53% past year.

More Gains Ahead?

Currently, SMH has a Zacks ETF Rank #1 (Strong Buy) with a High risk outlook, suggesting that the outperformance could continue in the months ahead.