For investors seeking momentum, SPDR Dow Jones Industrial Average ETF (DIA Quick QuoteDIA - Free Report) is probably on the radar. The fund just hit a 52-week high and is up 23% from its 52-week low price of $366.32 per 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:

DIA in Focus

SPDR Dow Jones Industrial Average ETF is one of the largest and most popular ETFs in the large-cap space. It holds 30 blue-chip stocks, with key holdings in financials, information technology, industrials, consumer discretionary and healthcare that account for double-digit exposure each. DIA charges investors 16 basis points a year in fees (see: all the Large Cap Value ETFs here).

Why the Move?

The large-cap segment of the broad U.S. stock market has been an area to watch lately as the Dow Jones hit a new all-time high. The surge was particularly driven by a 14% rally in UnitedHealth (UNH Quick QuoteUNH - Free Report) stock after Berkshire Hathaway disclosed its major stake in the company, valued at approximately $1.6 billion or around 5 million shares in its second-quarter filings.

More Gains Ahead?

Currently, DIA has a Zacks ETF Rank #1 (Strong Buy), with a Medium risk outlook, suggesting that the outperformance could continue in the months ahead. However, many spaces 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.