For investors seeking momentum, Fidelity MSCI Consumer Staples ETF (FSTA) is probably on radar now. The fund just hit a 52-week high, which is up roughly 26.3% from its 52-week low price of $24.66/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:

FSTA in Focus    

FSTA focuses on the consumer staples segment of the U.S. market. The fund has a large-cap focus with key holdings in the food & staples retailing, beverages and food products segments. It charges investors 12 basis points a year in fees and has top holdings in Procter & Gamble (PG), Coca-Cola (KO) and Philip Morris International (PM) (see all the consumer staples ETFs here).

Why the Move?

The consumer staples sector has been an area to watch lately as stock market instability has been giving a boost to the safer securities. Since the consumer staples sector is non-cyclical in nature, the space has been a winner in recent times.

Also, significant oil savings that resulted in higher consumer spending and a healing labor market lent support to the consumer segment. If this was not enough, the fund offers a decent dividend to win even in a low yield environment like we are witnessing now.

More Gains Ahead?

Currently, FSTA has a Zacks ETF Rank #3 (Hold) so it is hard to get a handle on its future returns one way or another. However, the fund has a positive weighted alpha of 7.60. A positive weighted alpha hints at more gains.