Alerian MLP ETF (AMLP Quick QuoteAMLP - Free Report) is probably on the radar for investors seeking momentum. The fund just hit a 52-week high and has moved up 23.5% from its 52-week low price of $43.75 per share.

Are more gains in store for this ETF? Let us 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.

AMLP in Focus

The underlying Alerian MLP Infrastructure Index is capped, float-adjusted, capitalization-weighted composite of energy infrastructure Master Limited Partnerships that earn the majority of their cash flow from the transportation, storage, and processing of energy commodities. The product charges 85 bps in annual fees and yields 7.38% annually.

Why the Move?

The recent surge in oil prices following escalating tensions in the Middle East region has aided the fund. The trajectory from here hinges on how long the disruption lasts and how much physical damage occurs to the energy infrastructure.

With some damage already done to the energy infrastructure in the Middle East, oil prices are less likely to return to pre-war levels. AMLP should benefit from this scenario. The fund also offers hefty current income—another plus for the segment.

More Gains Ahead?

AMLP might continue its strong performance in the near term, with a positive weighted alpha of 11.18 (per Barchart.com), which hints at a rally.