Invesco S&P 500 Momentum ETF (NYSEARCA:SPMO) Hits New 1-Year High – Should You Buy?

Invesco S&P 500 Momentum ETF (NYSEARCA:SPMO)’s stock price hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $103.18 and last traded at $103.15, with a volume of 830673 shares changing hands. The stock had previously closed at $102.40.

Invesco S&P 500 Momentum ETF Stock Performance

The business has a 50-day simple moving average of $98.17 and a 200 day simple moving average of $93.29. The firm has a market cap of $1.66 billion, a P/E ratio of 20.66 and a beta of 1.00.

Hedge Funds Weigh In On Invesco S&P 500 Momentum ETF

A number of hedge funds and other institutional investors have recently made changes to their positions in SPMO. LPL Financial LLC raised its stake in Invesco S&P 500 Momentum ETF by 75.3% in the fourth quarter. LPL Financial LLC now owns 2,178,729 shares of the company’s stock worth $207,001,000 after buying an additional 935,951 shares in the last quarter. Mainstay Capital Management LLC ADV increased its stake in shares of Invesco S&P 500 Momentum ETF by 374.5% in the 4th quarter. Mainstay Capital Management LLC ADV now owns 1,216,892 shares of the company’s stock worth $115,617,000 after acquiring an additional 960,418 shares in the last quarter. JPMorgan Chase & Co. increased its stake in shares of Invesco S&P 500 Momentum ETF by 391,013.3% in the 4th quarter. JPMorgan Chase & Co. now owns 617,959 shares of the company’s stock worth $58,712,000 after acquiring an additional 617,801 shares in the last quarter. Money Concepts Capital Corp lifted its position in Invesco S&P 500 Momentum ETF by 9.1% during the 4th quarter. Money Concepts Capital Corp now owns 611,529 shares of the company’s stock valued at $58,101,000 after acquiring an additional 50,980 shares during the period. Finally, Trilogy Capital Inc. boosted its stake in Invesco S&P 500 Momentum ETF by 1.6% during the fourth quarter. Trilogy Capital Inc. now owns 421,901 shares of the company’s stock worth $40,085,000 after acquiring an additional 6,523 shares in the last quarter.

About Invesco S&P 500 Momentum ETF

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.