For investors seeking momentum, the John Hancock Multifactor Healthcare ETF JHMH is probably on radar. The fund just hit a 52 week-high, and shares of JHMH are up roughly 22% from their 52-week low price of $29.91/share.

But could more gains be in store for this ETF? Let’s take a quick look at the fund and the near term outlook to get a better idea on where it might be headed:

JHMH in Focus

The fundfocuses on the healthcare segment of the market and comprises 106 holdings. Johnson & Johnson JNJ occupies the top weight with 6.55% weight. It has a large-cap bias (80%) (see: all the Health Care ETFs).

Why the move?

Healthcare stocks are hot with Democrats taking the house in midterm elections as this is supposed to reduce the risk of Republicans cancelling or weakening Obamacare. Approval of Medicaid expansion referendums in Idaho, Nebraska and Utah were taken in positive light as it would allow thousands of poor Americans to gain access to healthcare coverage.

More Gains Ahead?

Currently, JHMH has a Zacks ETF Rank #2 (Buy) with a Medium risk outlook, so there is definitely still some promise for those who want to try 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
 
Johnson & Johnson (JNJ) : Free Stock Analysis Report
 
JH-M-F HLTH CR (JHMH): 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