For investors seeking momentum, iShares Morningstar Large-Cap Growth ETF is probably on the radar now. The fund just hit a 52-week high and is up nearly 28.8% from its 52-week low price of $144.84/share.

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.

JKE in Focus

This 82-stock fund looks to track the Morningstar Large Growth Index. The expense ratio of the fund is 0.25%. Information Technology, Consumer Discretionary, Health Care and Financials are the top four sectors of the fund (see all large-cap ETFs here).

Why the Move?

Though the Fed has enacted the third rate hike of the year this month, the move was highly anticipated and thus priced-in at the current level. So, despite slight strength in the greenback, large-cap stocks which have considerable foreign exposure gained in the recent sessions. Also, some foreign economies are looking up lately. This went in favor of large-cap growth ETFs like JKE.

More Gains Ahead? 

The fund has a Zacks Rank #1 (Strong Buy). Also, it seems that it might stay strong in the near term given a positive weighted alpha of 26.40. As a result, there is still some promise for investors who want to ride on this surging ETF.

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