For investors seeking momentum, ELEMENTS DJ High Yield Select 10 ETN (DOD - Free Report) is probably on radar now. The fund just hit a 52-week high and is up about 79.5% from its 52-week low price of $16.04/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:

DOD in Focus

This is an ETN option and provides investors pure play to the 10 highest dividend-yielding securities in Dow Jones Industrial Average in equal proportions. It charges investors 75 bps in annual fees and has amassed only $52.3 million in its asset base.

Why the Move?

The large cap space has been an area to watch lately given that the Wall Street has been on a stellar ride buoyed by the combination of factors such as Trump trade, strongest Q4 earnings growth in two years, solid economic data, and growing prospects of rate hike. Additionally, the U.S. economy is on solid ground buoyed by an impressive labor market, rising wages, slowly rising inflation and increasing consumer spending.