For investors seeking momentum, iShares Treasury Floating Rate Bond ETF TFLO is probably on radar. The fund just hit a 52-week high and is up 0.5% from its 52-week low price of $50.25/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 of where it might be headed:TFLO in FocusiShares Treasury Floating Rate Bond ETF offers exposure to U.S. floating rate Treasury bonds, whose interest payments adjust to reflect changes in interest rates. It has an effective duration of 0.01 years and average maturity of 0.57 years. The product charges 15 bps in annual fees (see: all the Government Bond ETFs here).Why the Move?The floating rate bond has been an area to watch lately due to rising interest rates. The Fed has been on an aggressive tightening policy to fight skyrocketing inflation, which is near its highest levels since the early 1980s. Fed Chair Jerome Powell raised interest rates by another three-quarters of a percentage point in the latest meeting. This marks the third consecutive interest-rate hike of 0.75%.Floating rate bonds are investment grade and do not pay a fixed rate to investors but have variable coupon rates that are often tied to an underlying index (such as LIBOR) plus a variable spread depending on the credit risk of issuers. Since the coupons of these bonds are adjusted periodically, these are less sensitive to an increase in rates compared to the traditional bonds. Unlike fixed-coupon bonds, these do not lose value when the rates go up, making the bonds ideal for protecting investors against capital erosion in a rising rate environment.More Gains Ahead?Currently, TFLO might remain strong given a weighted alpha of 0.51 and 20-day volatility of 0.63%. As a result, there is definitely still some promise for risk-aggressive investors, who want to ride on this surging ETF. 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 iShares Treasury Floating Rate Bond ETF (TFLO): ETF Research Reports To read this article on Zacks.com click here. Zacks Investment Research