For investors seeking momentum, ProShares S&P 500 Aristocrats ETF (NOBL – ETF report) is probably on their radar now. The fund just hit a 52-week high, and is up about 41% from its 52-week low price of $36.98/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:

NOBL in Focus    

This product provides exposure to the companies that raised dividend payments annually for at least 25 years. Consumer staples is the top sector, accounting for one-fourth of the portfolio, while industrials, healthcare, consumer discretionary and financials round off the next four spots. The fund charges 0.35% in expense ratio.

Why the Move?

The dividend corner of the broad investing world has been an area to watch lately given the high levels of market volatility and the Fed’s latest downbeat view on interest rate hike. The longer-than-expected low-rate environment will continue to lure investors to dividend stocks. This is especially true as the companies that pay dividends generally act as a hedge against economic uncertainty and provides downside protection by offering outsized payouts or sizable yields on a regular basis. Further, dividend-paying securities are the major sources of consistent income for investors when returns from the equity market are at risk.

More Gains Ahead?

Currently, NOBL has a Zacks ETF Rank of 2 or ‘Buy’ rating with a Medium risk outlook, suggesting continued outperformance 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 further.