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

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

Invesco S&P 500 Momentum ETF Stock Up 1.8%

The stock has a market cap of $17.85 billion, a price-to-earnings ratio of 29.51 and a beta of 1.09. The company’s 50-day moving average is $121.61 and its 200-day moving average is $120.25.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. PNC Financial Services Group Inc. raised its position in Invesco S&P 500 Momentum ETF by 124.2% in the first quarter. PNC Financial Services Group Inc. now owns 4,091 shares of the company’s stock worth $459,000 after purchasing an additional 2,266 shares in the last quarter. Alpha Zero LLC raised its position in Invesco S&P 500 Momentum ETF by 6.4% in the first quarter. Alpha Zero LLC now owns 95,683 shares of the company’s stock worth $10,727,000 after purchasing an additional 5,789 shares in the last quarter. Legacy Wealth Managment LLC ID raised its position in Invesco S&P 500 Momentum ETF by 38,850.0% in the first quarter. Legacy Wealth Managment LLC ID now owns 779 shares of the company’s stock worth $87,000 after purchasing an additional 777 shares in the last quarter. Florida Financial Advisors LLC raised its position in Invesco S&P 500 Momentum ETF by 7.2% in the first quarter. Florida Financial Advisors LLC now owns 29,242 shares of the company’s stock worth $3,278,000 after purchasing an additional 1,958 shares in the last quarter. Finally, Scarborough Advisors LLC raised its position in Invesco S&P 500 Momentum ETF by 63,136.5% in the first quarter. Scarborough Advisors LLC now owns 39,839 shares of the company’s stock worth $4,466,000 after purchasing an additional 39,776 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.