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Mix beef, egg, milk, breadcrumbs and Traeger beef rub in a large bowl by hand. Once well mixed, make 2-2.5 oz meatballs until complete.
Wrap each meatball in a half slice of bacon and slide toothpick all the way through.
Put Traeger BBQ rub in a small bowl and roll each meatball through the rub until well coated.
When ready to cook, start the Traeger grill on Smoke with the lid open until the fire is established (4 to 5 minutes). Place the meatballs on the grate, close the lid and cook on Smoke for 1 hour.
Increase the temperature to 350 degrees F and preheat, lid closed, for 10 minutes. Cook meatballs for another 20-30 minutes or until the meatball internal temperature reaches 160-165 degrees F.
About 10 minutes before the meatballs are ready, brush with Traeger Apricot BBQ Sauce and allow it to caramelize.
Remove from grill and allow to rest for 5 minutes. Enjoy!