For investors seeking momentum, Global X Social Media ETF (SOCL Quick QuoteSOCL - Free Report) is probably on radar now. The fund just hit a 52-week high and is up about 39.2% from its 52-week low price of $21.54/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:

SOCL in Focus

This ETF offers exposure to the companies involved in the social media industry. It holds 33 securities in its basket with none accounting for more than 10.7% of total assets. It has key holdings in information technology. Tencent Holdings Ltd, Twitter Inc. and Facebook Inc-A are top three stocks of the fund. It charges 65 basis points in annual fees (see all technology ETFs here).

Why the Move?

The tech space has been on a tear lately thanks to Netflix’s stellar earnings results. The technology sector is said to be a cyclical one and performs well in a growing economy. Also, recent sell-off in the space has made the stocks and funds undervalued.

More Gains Ahead?

Currently, SOCL has a Zacks ETF Rank of 1 or ‘Strong Buy’ rating with a High risk outlook, suggesting that the outperformance could continue in the months ahead. Further, many of the segments that make up this ETF have a strong Zacks Industry Rank, so there is definitely still some promise for those who want to ride on this surging ETF a little longer.

Want key ETF info delivered straight to your inbox?

Zacks’ free Fund Newsletter will brief you on top news and analysis, as well as top-performing ETFs, each week. Get it free >>