For investors seeking momentum, NuShares Short-Term REIT ETF (NURE Quick QuoteNURE - Free Report) is probably on radar now. The fund just hit a 52-week high, which is up roughly 21.6% from its 52-week low price of $24.03/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:

NURE in Focus

The underlying Dow Jones U.S. Select Short-Term REIT Index is composed of U.S. exchange-traded equity REITs that concentrate their holdings in apartment buildings, hotels, self-storage facilities and manufactured home properties. The fund charges 35 bps in fees (see all Real Estate ETFs here).

Why the Move?

Since markets were volatile lately due to the return of global growth worries and some downbeat tech earnings,  rates have been at moderate levels. This led to the scope for outperformance for this real estate ETF. The fund performs better in a low-rate environment. Also, U.S. GP economic data came in at upbeat, which is another positive for the fund.

More Gains Ahead?

The fund has a positive weighted alpha of 14.10. So, there is definitely still some promise for those who want to ride on this surging ETF a little longer, especially if uncertainty remains in the market.

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