Invesco S&P 500 Momentum ETF (NYSEARCA:SPMO) Sets New 52-Week High – Still a Buy?

Invesco S&P 500 Momentum ETF (NYSEARCA:SPMO) shares reached a new 52-week high during trading on Wednesday . The company traded as high as $103.44 and last traded at $103.07, with a volume of 911798 shares changing hands. The stock had previously closed at $103.06.

Invesco S&P 500 Momentum ETF Stock Performance

The business’s 50-day moving average price is $98.48 and its 200 day moving average price is $93.75. The stock has a market capitalization of $1.66 billion, a PE ratio of 20.66 and a beta of 1.00.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. PSI Advisors LLC grew its position in Invesco S&P 500 Momentum ETF by 61.8% in the fourth quarter. PSI Advisors LLC now owns 288 shares of the company’s stock worth $27,000 after acquiring an additional 110 shares in the last quarter. D.A. Davidson & CO. grew its position in Invesco S&P 500 Momentum ETF by 1.4% in the fourth quarter. D.A. Davidson & CO. now owns 9,586 shares of the company’s stock worth $911,000 after acquiring an additional 134 shares in the last quarter. Weaver Consulting Group grew its position in Invesco S&P 500 Momentum ETF by 1.9% in the fourth quarter. Weaver Consulting Group now owns 11,145 shares of the company’s stock worth $1,059,000 after acquiring an additional 204 shares in the last quarter. Global Trust Asset Management LLC grew its position in Invesco S&P 500 Momentum ETF by 95.5% in the fourth quarter. Global Trust Asset Management LLC now owns 430 shares of the company’s stock worth $41,000 after acquiring an additional 210 shares in the last quarter. Finally, Continuum Advisory LLC lifted its stake in Invesco S&P 500 Momentum ETF by 44.2% in the third quarter. Continuum Advisory LLC now owns 705 shares of the company’s stock worth $67,000 after purchasing an additional 216 shares during the last quarter.

Invesco S&P 500 Momentum ETF Company Profile

The Invesco S&P 500 Momentum ETF (SPMO) is an exchange-traded fund that is based on the S&P 500 Momentum (US Dollar) index. The fund tracks an index of 100 S&P 500 components with the strongest volatility-adjusted momentum. SPMO was launched on Oct 9, 2015 and is managed by Invesco.