For investors seeking momentum, iShares Dow Jones US Technology ETF (IYW Quick QuoteIYW - Free Report) is probably on radar now. The fund just hit a 52-week high, and is up roughly 40.2% from its 52-week low price of $114.68/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:

IYW in Focus    

This fund provides exposure to U.S. electronics, computer software and hardware, and informational technology companies. Holding 142 stocks in the basket, it is highly concentrated on the top five firms that collectively account for a half of the portfolio. Further, it has key holdings in software and services, technology hardware and equipment, as well as semiconductors. The product charges 44 bps in fees per year (see: all the Technology ETFs here).

Why the Move?

The technology corner of the broad U.S. stock market has been an area to watch lately given the deluge of robust results from tech heavy players like Alphabet (GOOGL Quick QuoteGOOGL - Free Report) , Intel (INTC Quick QuoteINTC - Free Report) and Microsoft (MSFT Quick QuoteMSFT - Free Report) that have propelled the sector to new highs. Additionally, hopes for better-than-expected earnings from Facebook and Apple (AAPL Quick QuoteAAPL - Free Report) this week have added to the strength.

More Gains Ahead?

Currently, IYW has a Zacks ETF Rank #1 (Strong Buy) with a Medium 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.

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