For investors seeking momentum, Vanguard Utilities ETF VPU is probably on radar now. The fund just hit a 52-week high and is up about 20% from its 52-week low price of $104.82/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:VPU in FocusThis ETF provides exposure to companies that distribute electricity, water, or gas, or that operate as independent power producers. It holds 71 securities in its basket and has key holdings in electric utilities and multi utilities. VPU is one of the popular and liquid ETFs in the utilities space with AUM of nearly $3.3 billion and average daily volume of roughly 168,000 shares. Expense ratio comes in at 0.10% (see: all the Utilities ETFs here).Why the Move?The utility sector has been an area to watch lately given that heightened volatility and uncertainty have raised the appeal for utility stocks. Being the low-beta sector, utility is relatively protected from large swings (ups and downs) in the stock market and is thus considered a defensive investment or one that is unaffected by economic cycles and politics. Additionally, utilities offer solid dividend payouts and excellent capital appreciation over the longer term.More Gains Ahead?Currently, VPU has a Zacks ETF Rank #3 (Hold) with a Medium risk outlook. Therefore, it is hard to get a handle on its future returns one way or the other. However, many of the segments that make up this ETF have a strong Zacks Industry Rank. So, there is definitely some promise for those who want to ride this surging ETF a little further.Want key ETF info delivered straight to your inbox?Zacks’ free Fund Newsletter will brief you on top news and analysis, as well as top-performing ETFs, each week. Get it free >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report VIPERS-UTIL (VPU): ETF Research Reports To read this article on Zacks.com click here.