For investors seeking momentum,State Street SPDR Dow Jones Industrial Average ETF Trust (DIA Quick QuoteDIA - Free Report) is probably on the radar. The fund just hit a 52-week high and is up 24.71% from its 52-week low price of $419.62/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

The underlying Dow Jones Industrial Average comprises 30 blue-chip U.S. stocks. The product charges 16 bps in annual fees (see: all the Large Cap Value ETFs here).

Why the Move?

The large-cap segment of the U.S. stock market has been in focus lately, with the Dow Jones reaching a record high as investors rotated away from chipmakers amid declining oil prices. Additionally, robust bank earnings and compelling valuations in the financial sector helped drive gains in large-cap stocks.

More Gains Ahead?

Currently, DIA has a Zacks ETF Rank #1 (Strong Buy) with a Medium risk outlook. It might continue its strong performance in the near term, with a positive weighted alpha of 23.15 (as per Barchart.com), which gives cues of a further rally.