Invesco S&P 500 Momentum ETF (NYSEARCA:SPMO) Hits New 52-Week High – What’s Next?

Invesco S&P 500 Momentum ETF (NYSEARCA:SPMO) reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $106.52 and last traded at $106.43, with a volume of 1258530 shares. The stock had previously closed at $105.35.

Invesco S&P 500 Momentum ETF Stock Performance

The firm has a market capitalization of $8.00 billion, a PE ratio of 27.23 and a beta of 0.97. The company’s 50 day simple moving average is $95.60 and its 200-day simple moving average is $96.87.

Institutional Trading of Invesco S&P 500 Momentum ETF

Several institutional investors and hedge funds have recently bought and sold shares of the company. Envestnet Asset Management Inc. increased its holdings in shares of Invesco S&P 500 Momentum ETF by 41.7% in the 1st quarter. Envestnet Asset Management Inc. now owns 6,014,557 shares of the company’s stock worth $556,527,000 after buying an additional 1,770,226 shares during the last quarter. LPL Financial LLC increased its holdings in shares of Invesco S&P 500 Momentum ETF by 64.3% in the 1st quarter. LPL Financial LLC now owns 3,579,241 shares of the company’s stock worth $331,187,000 after buying an additional 1,400,512 shares during the last quarter. Clark Capital Management Group Inc. increased its holdings in shares of Invesco S&P 500 Momentum ETF by 35.4% in the 1st quarter. Clark Capital Management Group Inc. now owns 1,683,208 shares of the company’s stock worth $155,747,000 after buying an additional 440,005 shares during the last quarter. Bank of America Corp DE increased its holdings in shares of Invesco S&P 500 Momentum ETF by 363.9% in the 4th quarter. Bank of America Corp DE now owns 1,446,799 shares of the company’s stock worth $137,460,000 after buying an additional 1,134,915 shares during the last quarter. Finally, CWM LLC increased its holdings in shares of Invesco S&P 500 Momentum ETF by 201.9% in the 1st quarter. CWM LLC now owns 1,313,198 shares of the company’s stock worth $121,510,000 after buying an additional 878,259 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.