Sovereign Financial Group Inc. Takes $1.39 Million Position in Invesco S&P 500 Momentum ETF $SPMO

Sovereign Financial Group Inc. purchased a new stake in Invesco S&P 500 Momentum ETF (NYSEARCA:SPMO) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 11,442 shares of the company’s stock, valued at approximately $1,385,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Apollon Wealth Management LLC raised its stake in Invesco S&P 500 Momentum ETF by 61.6% during the 3rd quarter. Apollon Wealth Management LLC now owns 17,715 shares of the company’s stock valued at $2,145,000 after purchasing an additional 6,751 shares during the period. Hengehold Capital Management LLC purchased a new position in shares of Invesco S&P 500 Momentum ETF during the third quarter valued at $1,558,000. Eagle Capital Management LLC raised its position in Invesco S&P 500 Momentum ETF by 99.9% during the third quarter. Eagle Capital Management LLC now owns 72,222 shares of the company’s stock valued at $8,743,000 after buying an additional 36,097 shares during the period. HBW Advisory Services LLC grew its stake in Invesco S&P 500 Momentum ETF by 4.8% during the 3rd quarter. HBW Advisory Services LLC now owns 229,405 shares of the company’s stock valued at $27,772,000 after acquiring an additional 10,530 shares in the last quarter. Finally, Blue Trust Inc. purchased a new position in Invesco S&P 500 Momentum ETF during the 3rd quarter valued at about $31,000.

Invesco S&P 500 Momentum ETF Price Performance

NYSEARCA SPMO opened at $121.38 on Friday. The firm has a market capitalization of $13.26 billion, a price-to-earnings ratio of 29.51 and a beta of 0.98. The company has a 50 day simple moving average of $119.66 and a 200-day simple moving average of $117.17. Invesco S&P 500 Momentum ETF has a 52-week low of $78.25 and a 52-week high of $124.56.

Invesco S&P 500 Momentum ETF 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.