For investors seeking momentum, VanEck Vectors Investment Grade Floating Rate ETF FLTR is probably on radar. The fund just hit a 52-week high and is up 31% from its 52-week low price of $19.42 per 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:FLTR in FocusThis fund offers exposure to a portfolio of investment grade floating rate corporate bonds. More than half of the portfolio is dominated by American firms while Japan and United Kingdom round off the next two spots. It charges 14 bps in annual fees from investors (see: all the Investment Grade Corporate Bond ETFs here).Why the Move?Floating rate notes have been an area to watch lately given the outsized surge in Treasury yields, which wrecked havoc on the stock market. Floating rate notes offer a hedge against rising interest rates and provide safe income to investors with lower downside risk. This is because these are investment grade bonds that 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 the issuers. Since the coupons of these bonds are adjusted periodically, they are less sensitive to an increase in rates compared to the traditional bonds.More Gains Ahead?It seems that FLTR might remain strong given a weighted alpha of 1.56 and a 20-day volatility of 1.36%. 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 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