For investors seeking momentum, SPDR S&P 500 Growth Portfolio ETF (SPYG Quick QuoteSPYG - Free Report)  is probably a suitable pick. The fund just hit a 52-week high — up roughly 29.6% from its 52-week low of $33.20/share.

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:

SPYG in Focus

The underlying S&P 500 Growth Index measures the performance of the large-capitalization growth sector in the U.S. equity market. The fund charges 4 bps in fees (see all Style Box - Large Cap Growth ETFs here).

Why the Move?

Wall Street rebounded soon after a wobbly start to the New Year (due to geopolitical tensions) as investors shrugged off fears of a possible escalation in Middle East tensions. The S&P 500 is at the record high now. U.S.-China trade optimism, a dovish Fed, easing of Brexit uncertainty and dissipating global growth worries have been driving the market.

More Gains Ahead?

The fund has a Zacks Rank #1 (Strong Buy) and has a positive weighted alpha of 27.60, which gives cues of further rally.

Want key ETF info delivered straight to your inbox?

Zacks’ free Fund Newsletter will brief you on top news and analysis, as well as top-performing ETFs, each week. Get it free>>