Invesco S&P MidCap 400 GARP ETF (NYSEARCA:GRPM) Hits New 52-Week High – Should You Buy?

Invesco S&P MidCap 400 GARP ETF (NYSEARCA:GRPM) shares reached a new 52-week high on Monday. The stock traded as high as $147.66 and last traded at $147.2690, with a volume of 886 shares traded. The stock had previously closed at $144.72.

Invesco S&P MidCap 400 GARP ETF Stock Performance

The stock has a market capitalization of $627.58 million, a PE ratio of 13.88 and a beta of 1.03. The stock’s 50 day moving average is $141.06 and its two-hundred day moving average is $130.32.

Hedge Funds Weigh In On Invesco S&P MidCap 400 GARP ETF

A number of hedge funds have recently made changes to their positions in the company. Commonwealth Equity Services LLC purchased a new position in Invesco S&P MidCap 400 GARP ETF in the 3rd quarter valued at $1,699,000. Oppenheimer & Co. Inc. purchased a new stake in shares of Invesco S&P MidCap 400 GARP ETF during the third quarter worth $1,140,000. Sigma Planning Corp acquired a new stake in shares of Invesco S&P MidCap 400 GARP ETF in the third quarter valued at about $1,194,000. Root Financial Partners LLC acquired a new stake in shares of Invesco S&P MidCap 400 GARP ETF in the third quarter valued at about $94,000. Finally, Courage Miller Partners LLC purchased a new position in shares of Invesco S&P MidCap 400 GARP ETF in the third quarter worth about $269,000.

About Invesco S&P MidCap 400 GARP ETF

The Invesco S&P MidCap 400 GARP ETF (GRPM) is an exchange-traded fund that is based on the S&P MidCap 400 GARP index. The fund tracks an index of US mid-cap growth stocks with perceived quality and value characteristics. GRPM was launched on Dec 8, 2010 and is issued by Invesco.