Investors seeking momentum may have Dynamic Semiconductors Invesco ETF (PSI Quick QuotePSI - Free Report) on radar now. The fund recently hit a new 52-week high. Shares of PSI are up approximately 68.1% from their 52-week low of $44.68/share.

But could there be more gains ahead for this ETF? Let’s take a look at the fund and the near-term outlook to get a better idea of where it might be headed.

PSI in Focus

The underlying Dynamic Semiconductor Intellidex Index is comprised of stocks of semiconductor companies. The Index is designed to provide capital appreciation by thoroughly evaluating companies based on a variety of investment merit criteria, including fundamental growth, stock valuation, investment timeliness and risk factors. PSI charges investors 58 basis points in fee per year (see all technology ETFs here).

Why the move?

Reopening of global economies, recovery in the U.S. and Chinese manufacturing activities and upbeat earnings from Broadcom have probably led to the surge in the fund.

More Gains Ahead?

Currently, PSI has a Zacks ETF Rank #1 (Strong Buy) with a High-risk outlook. The fund also has a positive weighted alpha of 46.90. So, there is a decent outlook ahead for those who want to ride this surging ETF a shade further.

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