For investors seeking momentum, Aberdeen Standard Physical Palladium Shares ETF (PALL Quick QuotePALL - Free Report) is probably a suitable pick. The fund just hit a 52-week high, up roughly 59.4% from its 52-week low of $120.01/share.

But does it have more gains in store? Let’s take a look at the fund and its near-term outlook to gain an insight into where it might be headed:

PALL in Focus

PALL reflects the performance of the price of palladium, less Trust's expenses. The shares are designed for investors who want a cost-effective and convenient way to invest in physical palladium. PALL charges 60 basis points in fee per year and has AUM of $311.8 million (see all Precious Metals ETFs here).

Why the Move?

Palladium has been seeing strong demand in the manufacturing of industrial products. The metal is used for catalytic converters in gasoline-powered cars. Meanwhile, the markets have been long grappling with a supply crunch of palladium. In fact, at the current level of supplies, market demand for the metal remains unmet. Moreover, analysts expect the palladium market to continue to witness supply shortages. Also, apart from the supply constraints, the Middle-East conflicts are making the fund attractive to investors.

More Gains Ahead?

Currently, it seems PALL might remain strong given a positive weighted alpha of 59.0.

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