For investors seeking momentum, iShares S&P 500 Growth ETF (IVW - Free Report) is probably on radar now. The fund just hit a 52-week high and is up more than 21% from its 52-week low price of $105.46/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:

IVW in Focus

IVW provides exposure to large cap stocks whose earnings are expected to grow at an above-average rate relative to the market. Holding 319 stocks, it is moderately concentrated across securities with none holding more than 6.61% share. The fund has key holdings in information technology while consumer discretionary, healthcare and industrials round off the next three spots. It charges 18 basis points in annual fees.

Why the Move?

The growth space of the broad U.S. stock market has been an area to watch lately given that U.S. bourses hit multiple highs again and logged in the third weekly gain. The optimism strengthened following Trump’s talks of tax cuts and infrastructure spending that reignited a post-election rally, which had stalled on concerns over Trump’s protectionist action and lack of clarity on policy reforms. In such a trending market (i.e. a market characterized by a prolonged uptrend), growth stocks tend to outperform.