Invesco S&P 500 Momentum ETF (NYSEARCA:SPMO) Reaches New 12-Month High – What’s Next?

Invesco S&P 500 Momentum ETF (NYSEARCA:SPMO) shares reached a new 52-week high during trading on Monday . The company traded as high as $108.28 and last traded at $108.19, with a volume of 879992 shares traded. The stock had previously closed at $106.70.

Invesco S&P 500 Momentum ETF Trading Up 1.7%

The firm’s fifty day moving average price is $100.58 and its 200-day moving average price is $97.93. The company has a market cap of $8.82 billion, a price-to-earnings ratio of 28.02 and a beta of 0.99.

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

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Fourth Dimension Wealth LLC bought a new position in shares of Invesco S&P 500 Momentum ETF in the 1st quarter valued at about $28,000. WealthShield Partners LLC grew its stake in Invesco S&P 500 Momentum ETF by 51.2% in the 1st quarter. WealthShield Partners LLC now owns 307 shares of the company’s stock valued at $28,000 after buying an additional 104 shares during the last quarter. ORG Wealth Partners LLC bought a new stake in shares of Invesco S&P 500 Momentum ETF in the first quarter valued at about $40,000. Bank Julius Baer & Co. Ltd Zurich acquired a new stake in shares of Invesco S&P 500 Momentum ETF during the 4th quarter worth $48,000. Finally, Continuum Advisory LLC lifted its position in shares of Invesco S&P 500 Momentum ETF by 41.2% during the 1st quarter. Continuum Advisory LLC now owns 528 shares of the company’s stock worth $49,000 after buying an additional 154 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.