For investors seeking momentum, First Trust Indxx Global Agriculture ETF (FTAG Quick QuoteFTAG - Free Report) is probably on the radar now. The fund just hit a 52-week high and is up 30.1% from its 52-week low price of $21.53 per share.  

But are there more gains in store for this ETF? Let’s take a quick look at the fund and its near-term outlook to get a better sense of where it might head.

FTAG in Focus

It offers exposure to companies that are directly or indirectly engaged in improving agricultural yields. The fund charges 70 basis points (bps) in annual fees (See: all Materials ETFs here).

What Led to the Rise?

Renewed and large-scale demand for agricultural products from China, a strengthening trade relationship between the United States and China following the truce between the two nations last year, and increased adoption of technology within the farming sector are likely to have boosted  FTAG’s performance lately.

More Gains Ahead?

FTAG may continue its strong performance in the near term, with a positive weighted alpha of 67.90 (as per Barchart.com), which suggests a further rally.