For investors seeking momentum, First Trust Large Cap Growth AlphaDEX Fund (FTC - Free Report) is probably on radar now. The fund just hit a 52-week high and is up around 32.4% from its 52-week low price of $50.39/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:

FTC in Focus

This fund offers exposure to large U.S. companies with a slightly active choice as it uses the AlphaDEX methodology to select the stock. It has key holdings in information technology, accounting for one-third of the portfolio, while industrials, financials, consumer discretionary and health care round off the next four spots. It charges 62 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 the skyrocketing market. The latest rally came from euphoria surrounding the massive $1.5-trillion tax cut that will create an economic surge, boosting job growth and reflation trade. It will further accelerate earnings, leading to increased dividend and buyback activities, and increased mergers and acquisitions. Growth stocks tend to outperform in a trending market (a market characterized by a prolonged uptrend).

More Gains Ahead?

Currently, FTC has a Zacks ETF Rank #2 (Buy) with a Medium risk outlook, suggesting that the outperformance could continue in the months ahead. Further, many of the segments that make up this ETF have a strong Zacks Industry Rank, so there is definitely still some promise for those who want to ride on this surging ETF a little longer.