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

Invesco S&P 500 Momentum ETF (NYSEARCA:SPMO) shares reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $148.40 and last traded at $148.38, with a volume of 269572 shares changing hands. The stock had previously closed at $144.94.

Invesco S&P 500 Momentum ETF Price Performance

The company has a fifty day moving average of $127.61 and a 200-day moving average of $122.17. The firm has a market capitalization of $18.17 billion, a PE ratio of 29.51 and a beta of 1.09.

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

Institutional investors have recently bought and sold shares of the stock. Dynamic Advisor Solutions LLC grew its position 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 purchasing an additional 57,149 shares during the last quarter. IFP Advisors Inc grew its position 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 purchasing an additional 5,361 shares during the last quarter. CIBC Private Wealth Group LLC grew its position in shares of 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 valued at $1,934,000 after purchasing an additional 15,758 shares during the last quarter. Ascent Group LLC grew its position in shares of 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 valued at $30,145,000 after purchasing an additional 102,587 shares during the last quarter. Finally, Able Wealth Management LLC grew its position in shares of Invesco S&P 500 Momentum ETF by 13.0% in the fourth quarter. Able Wealth Management LLC now owns 120,379 shares of the company’s stock valued at $14,364,000 after purchasing an additional 13,883 shares during 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.