Soundwatch Hedged Equity ETF (SHDG Quick QuoteSHDG - Free Report) is probably on the radar for investors seeking momentum. The fund just hit a 52-week high and has jumped 10.6% from its 52-week low price of $30.62 per share.

Are more gains in store for this ETF? Let us take a quick look at the fund and the near-term outlook to get a better idea of where it might head.

SHDG in Focus

This is an active fund that seeks to provide long-term capital appreciation. The product charges 91 basis points (bps) in annual fees (You can see all Style Box - Large Cap Blend ETFs here).

Why the Move?

The fund hit a new 52-week high mainly because over 98% of its portfolio sits in core U.S. large-cap stocks through IVV, tracking the S&P 500 rally. Its options strategy — covered calls and put spreads — adds income and cushions downturns. This low-beta design protects capital in pullbacks. 

More Gains Ahead?

SHDG might continue its strong performance in the near term, with a positive weighted alpha of 7.97 (per Barchart.com), which hints at a rally.