Investors looking for ETFs with rising momentum need look no further the PowerShares QQQ Trust (QQQ). This product just hit a new 52-week high — and all-time high — of $126.39 today, and is now up 33.27% from its 52-week low price of $94.84 per share.

Will this ETF continue its string of recent wins? Let’s take a closer look at the fund, its recent gains, the category it resides in, and its ratings and outlook to get a sense of whether its momentum is sustainable or not.

Inside QQQ’s Rise

As mentioned earlier, QQQ has now gained 33.27% from its 52-week low, which was hit back on February 8, 2016. The fund has now returned 3.65% over the past month, 7.74% over the past three months, and 8.50% in the past six months. Those returns compare to the benchmark S&P 500 index’s 1.01%, 6.69%, and 6.12% returns in the same periods, respectively.

QQQ currently sits above its 10-day, 20-day, 50-day, 100-day, and 200-day moving averages (MAs), which from a technical standpoint suggests a very strong possibility that the recent gains can continue. That’s because the shares have no short-term overhead resistance to bump up against.

A Look Under The Hood

PowerShares QQQ Trust is an Equity-focused product issued by Invesco PowerShares. Its expense ratio of 0.20% makes it the #11 cheapest ETF among 31 total funds in the Large Cap Growth ETFs category.

QQQ currently boasts $43.57B in assets under management (AUM), placing it #1 of 31 ETFs in its category, and #7 of 1922 total ETFs in the U.S. exchange traded universe.

The investment objective of the PowerShares QQQ Trust ETF is based on the Nasdaq-100 Index. The Index includes 100 of the largest domestic and international nonfinancial companies listed on the Nasdaq Stock Market based on market capitalization.

Stocks like Apple and Google parent Alphabet make up a huge percentage of the QQQ’s holdings, and with both stocks surging on the day, it’s no surprise that QQQ is doing so as well.

QQQ SMART Grade: More Gains Ahead?

QQQ currently has an ETF Daily News SMART Grade of A (Strong Buy), and is ranked #1 of 33 funds in the Large Cap Growth ETFs category.

A SMART Grade of A suggests excellent future price growth potential, so it’s reasonable to expect even more gains ahead. QQQ thus receives our highest recommendation, based on its price strength, reasonable expense ratio, and the quality of the underlying index.

For more information about this ETF, including full ratings, news, data, and more, please visit QQQ’s ticker page.

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