For investors seeking momentum, iShares S&P Small-Cap 600 Growth ETF (IJT Quick QuoteIJT - Free Report) is probably on the radar now. The fund just hit a 52-week high and is up nearly 35.4% from its 52-week low price of $149.00/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 on where it might be headed.

IJT in Focus

The fund measures the performance of the small-capitalization growth sector of the U.S. equity market. Ligand Pharmaceuticals, Trex and Healthequity are the top three holdings of the fund. Industrials (21.74%), Health Care (19.02%), Information Technology (16.30%), Financials (13.39%) and Consumer Discretionary (12.53%) are the top five sectors of the fund. The product charges 25 bps in fees (see all Small Cap ETFs here).

Why the Move? 

The present economic momentum is solid in the United States with the tax reform underway and several U.S. economic data coming in better than other developed economies. An improving U.S. economy, a rising greenback and geopolitical concerns pushed investors toward the more domestically-focused small-cap stocks. All these have boosted this small-cap ETF.

More Gains Ahead?

The fund has a Zacks Rank #1 (Strong Buy). Plus, it seems that the fund will perform decently in the near term given a positive weighted alpha of 33.40.

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