Investors looking for momentum can keep Deutsche X-trackers Harvest CSI 300 China A-Shares ETF ASHR on their radar now. The fund recently hit a 52-week high. Shares of ASHR are up approximately 16.89% from its 52-week low of $23.44/share.But could there be more gains ahead for this ETF? Let’s take a look at the fund and the near-term outlook to get a better idea of where it might be headed.ASHR in FocusASHR focuses on providing exposure to large-cap equities in China. From a sector look, it has high exposure to Financials, Industrials and Consumer Discretionary, with 35.85%, 14.8% and 11.58% allocation, respectively (as of July 10, 2017). It charges 65 basis points in fees per year and has top holdings in Ping An Insurance Group Co, China Merchants Bank and Kweichow Moutai Co Ltd with 9.91%, 5.19% and 4.86% exposure, respectively (as of July 10, 2017) (see all Asia-Pacific Emerging ETFs here).Why the Move?Chinese stocks have been in the news lately. June Producer Price Index (PPI) and Consumer Price Index (CPI) came in line with expectations. Consumer Price Index increased 1.5% year over year in June 2017, while Producer Price Index increased 5.5% year over year. The rise in PPI is expected to boost growth in the economy. Moreover, China's central bank, People’s Bank of China, resumed open market operations to inject 40 billion yuan into the money market on July 11, 2017.More Gains Ahead?Currently, ASHR has a Zacks ETF Rank #3 (Hold) with a High risk outlook. It has a low 14-day volatility of 9.08% and a weighted alpha of 14.5. So, there is still 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 DEUTS-XT HV CS3 (ASHR): 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