Horizon Landmark ETF (BENJ Quick QuoteBENJ - Free Report) is probably on the radar for investors seeking momentum. The fund just hit a 52-week high and rose 3.8% from its 52-week low price of $51.56 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.

BENJ in Focus

This fund invests in U.S. Treasury Bills with maturities ranging from one to three months (and ETFs that have substantial exposure to such Treasury Bills), and engages in options transactions. The product charges 40 basis points in annual fees (You can see all Money-Market Ultra-Short-Term ETFs here).

Why the Move?

The fund touched a 52-week high due to its strategic design as an actively managed derivatives-based fund. By pairing high-yielding ultra-short Treasury instruments with options overlay strategies linked to the S&P 500, BENJ must have capitalized on elevated short-term interest rates to generate a strong base income. Meanwhile, favorable market volatility likely boosted the fund’s options premium income, while broader equity market gains supported its underlying equity-linked derivatives, helping propel the fund to a new 52-week high.

More Gains Ahead?

BENJ might continue its strong performance in the near term, with a positive weighted alpha of 3.74 (per Barchart.com), which hints at a rally.