Invesco Zacks Mid-Cap ETF (CZA Quick QuoteCZA - Free Report) is probably on the radar for investors seeking momentum. The fund just hit a 52-week high and jumped 22.1% from its 52-week low price of $106.87 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.

CZA in Focus

This fund offers exposure to mid-capitalization securities, including common stocks, master limited partnerships (MLPs) and ADRs, real estate investment trusts (REITs) and business development companies (BDCs). The product charges 50 basis points in annual fees (You can see all Style-Box Mid-Cap Blend ETFs here).

Why the Move?

The fund recently hit a new 52-week high, potentially benefiting from a broader market rotation toward mid-cap value and cyclical stocks. CZA benefited from its substantial allocations to Financial Services, Industrials and Healthcare, supported by resilient earnings and favorable interest rate expectations. Strength in regional insurers and financial firms, along with gains in Waste Connections and MSCI, must have also contributed to its performance.

More Gains Ahead?

CZA might continue its strong performance in the near term, with a positive weighted alpha of 20.34 (per Barchart.com), which hints at a rally.