For investors seeking momentum, SPDR S&P Semiconductor ETF XSD is probably on radar now. The fund just hit a 52-week high and is up more than 75% from its 52-week low price of \/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:XSD in FocusThis ETF offers exposure to the companies in the semiconductor industry. It is well diversified across components with none making up for more than 4.6% of the portfolio. XSD charges 35 basis points in annual fees (see: all the Technology ETFs here).Why the Move?The semiconductor segment of the broad U.S. stock market has been an area to watch lately, given the surge in all types of chips demand amid a global shortage. Notably, the stay-at-home trend due to the coronavirus pandemic has bolstered demand for gaming chips and data center business. Semiconductors have been the most important drivers of overall growth in technology, given the use of chips in day-to-day life from cars, electronic gadgets to planes and weapons. Chip makers power much of the world’s technology with their new innovations and have set the stage for digitization in various corners like healthcare, transport, financial systems, defense, agriculture, and retail among others.More Gains Ahead?Currently, XSD has a Zacks ETF Rank #1 (Strong Buy) with a High risk outlook, suggesting that the outperformance could continue 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 longer. Tech IPOs With Massive Profit Potential: Last years top IPOs surged as much as 299% within the first two months. With record amounts of cash flooding into IPOs and a record-setting stock market, this year could be even more lucrative. See Zacks’ Hottest Tech IPOs Now >>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 SPDR S&P Semiconductor ETF (XSD): ETF Research Reports To read this article on Zacks.com click here.