For investors seeking momentum, PowerShares High Yield Equity Dividend Achievers Portfolio (PEY) is probably on radar now. The fund just hit a 52-week high, and is up about 61% from its 52-week low price of $9.20/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: PEY in Focus This product offers exposure to the companies that have high dividend yield and consistent growth in dividends. Utilities and energy are the top two sectors, each accounting for nearly 21% of the portfolio, while financials and consumer staples round off the next two spots. The fund charges 0.54% in expense ratio (see: all the Large Cap ETFs here). 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, slew of weak corporate earnings report and lower chances of 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 provide 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, PEY 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. 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 >>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 PWRSH-HY EQ DV (PEY): ETF Research Reports To read this article on Zacks.com click here. Zacks Investment Research 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