For investors seeking momentum, Procure Space ETF (UFO Quick QuoteUFO - Free Report) is probably on the radar. The fund just hit a 52-week high and is up 89.1% from its 52-week low price of $17.72/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: 

UFO in Focus

The underlying S-Network Space Index measures the performance of companies engaged in space-related industries. The product charges 94 bps in annual fees (See: All Industrials ETFs). 

Why the Move?

SpaceX achieved a major milestone on Aug. 26, 2025, with the launch of its colossal Starship rocket. After a few failures earlier this year, the rocket completed its first successful payload deployment of eight dummy Starlink satellites. With SpaceX’s progress, fresh IPOs, and government support, the space sector is drawing investors’ attention.

More Gains Ahead?

Currently, UFO might continue its strong performance in the near term, with a positive weighted alpha of 82.17 (as per Barchart.com), which gives cues of a further rally.