Invesco S&P MidCap Momentum ETF (NYSEARCA:XMMO) Sets New 52-Week High – Still a Buy?

Shares of Invesco S&P MidCap Momentum ETF (NYSEARCA:XMMO) hit a new 52-week high on Tuesday . The company traded as high as $160.46 and last traded at $160.27, with a volume of 22576 shares changing hands. The stock had previously closed at $158.86.

Invesco S&P MidCap Momentum ETF Stock Performance

The stock has a 50 day moving average of $148.35 and a two-hundred day moving average of $141.95. The firm has a market capitalization of $6.50 billion, a P/E ratio of 22.06 and a beta of 1.08.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. LPL Financial LLC increased its position in Invesco S&P MidCap Momentum ETF by 11.4% in the 4th quarter. LPL Financial LLC now owns 3,472,670 shares of the company’s stock worth $480,826,000 after buying an additional 355,614 shares during the period. Cetera Investment Advisers increased its position in Invesco S&P MidCap Momentum ETF by 11.3% in the 4th quarter. Cetera Investment Advisers now owns 1,251,835 shares of the company’s stock worth $173,329,000 after buying an additional 127,090 shares during the period. Vantagepoint Investment Advisers LLC bought a new position in Invesco S&P MidCap Momentum ETF in the 3rd quarter worth approximately $161,994,000. Wells Fargo & Company MN increased its position in Invesco S&P MidCap Momentum ETF by 13.5% in the 4th quarter. Wells Fargo & Company MN now owns 1,058,740 shares of the company’s stock worth $146,593,000 after buying an additional 125,898 shares during the period. Finally, Northwestern Mutual Wealth Management Co. increased its position in Invesco S&P MidCap Momentum ETF by 9.0% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 927,629 shares of the company’s stock worth $128,440,000 after buying an additional 76,532 shares during the period.

About Invesco S&P MidCap Momentum ETF

The Invesco S&P MidCap Momentum ETF (XMMO) is an exchange-traded fund that is based on the S&P MidCap 400 Momentum (USD) index. The fund tracks an index of S&P 400 MidCap stocks selected by momentum and weighted by market cap and momentum. XMMO was launched on Mar 3, 2005 and is managed by Invesco.