Invesco S&P 500 Momentum ETF (NYSEARCA:SPMO) Reaches New 1-Year High – Time to Buy?

Shares of Invesco S&P 500 Momentum ETF (NYSEARCA:SPMO) reached a new 52-week high during mid-day trading on Monday . The company traded as high as $145.89 and last traded at $145.26, with a volume of 235248 shares trading hands. The stock had previously closed at $143.81.

Invesco S&P 500 Momentum ETF Price Performance

The stock’s fifty day simple moving average is $121.61 and its 200-day simple moving average is $120.25. The company has a market capitalization of $17.85 billion, a P/E ratio of 29.51 and a beta of 1.09.

Institutional Investors Weigh In On Invesco S&P 500 Momentum ETF

Hedge funds have recently bought and sold shares of the company. Dynamic Advisor Solutions LLC lifted its stake in shares of Invesco S&P 500 Momentum ETF by 116.7% in the fourth quarter. Dynamic Advisor Solutions LLC now owns 106,101 shares of the company’s stock valued at $12,660,000 after buying an additional 57,149 shares during the period. IFP Advisors Inc lifted its stake in shares of Invesco S&P 500 Momentum ETF by 98.0% in the third quarter. IFP Advisors Inc now owns 10,833 shares of the company’s stock valued at $1,311,000 after buying an additional 5,361 shares during the period. Benjamin Edwards Inc. bought a new stake in shares of Invesco S&P 500 Momentum ETF in the third quarter valued at about $1,654,000. CIBC Private Wealth Group LLC raised its position in Invesco S&P 500 Momentum ETF by 7,363.6% in the third quarter. CIBC Private Wealth Group LLC now owns 15,972 shares of the company’s stock worth $1,934,000 after purchasing an additional 15,758 shares in the last quarter. Finally, Ascent Group LLC raised its position in Invesco S&P 500 Momentum ETF by 68.4% in the fourth quarter. Ascent Group LLC now owns 252,643 shares of the company’s stock worth $30,145,000 after purchasing an additional 102,587 shares in 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.