For investors seeking momentum, Cullen Enhanced Equity Income ETF (DIVP Quick QuoteDIVP - Free Report) is probably on the radar now. The fund just hit a 52-week high and is up 14.93% from its 52-week low price of $24.11 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.

DIVP in Focus

It is an active fund that seeks long-term capital appreciation and current income by investing in large-cap, dividend-paying companies and then selectively writing covered calls on 25-40% of the portfolio holdings. The product charges 55 basis points (bps) in annual fees (See: All Style-Box Large-Cap Value ETFs here).

What Led to the Rise?

As investors have lately rotated into high-quality value equities, funds like DIVP have been benefiting from strong operational performance across top holdings like EOG Resources and major energy leaders. Furthermore, the fund's covered-call strategy must have allowed it to harvest attractive option premiums while capturing steady underlying stock gains, creating a dual-engine tailwind that propelled the ETF to a new 52-week peak.

More Gains Ahead?

DIVP may continue its strong performance in the near term, with a positive weighted alpha of 8.63 (as per Barchart.com), which suggests a further rally.