Newport Capital Group LLC acquired a new stake in shares of SPDR S&P 1500 Momentum Tilt ETF (NYSEARCA:MMTM – Free Report) in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 9,503 shares of the company’s stock, valued at approximately $2,905,000. SPDR S&P 1500 Momentum Tilt ETF makes up about 1.9% of Newport Capital Group LLC’s holdings, making the stock its 19th biggest position.
Several other hedge funds and other institutional investors have also modified their holdings of MMTM. MTM Financial Group LLC raised its position in SPDR S&P 1500 Momentum Tilt ETF by 15.2% in the first quarter. MTM Financial Group LLC now owns 10,124 shares of the company’s stock worth $2,837,000 after purchasing an additional 1,338 shares in the last quarter. Royal Bank of Canada lifted its stake in SPDR S&P 1500 Momentum Tilt ETF by 2.2% during the first quarter. Royal Bank of Canada now owns 5,422 shares of the company’s stock worth $1,519,000 after purchasing an additional 115 shares during the period. Gateway Wealth Partners LLC lifted its stake in SPDR S&P 1500 Momentum Tilt ETF by 42.2% during the first quarter. Gateway Wealth Partners LLC now owns 4,280 shares of the company’s stock worth $1,199,000 after purchasing an additional 1,271 shares during the period. Aspire Capital Advisors LLC acquired a new stake in SPDR S&P 1500 Momentum Tilt ETF during the second quarter valued at approximately $388,000. Finally, Envestnet Asset Management Inc. boosted its holdings in SPDR S&P 1500 Momentum Tilt ETF by 5.1% during the second quarter. Envestnet Asset Management Inc. now owns 930 shares of the company’s stock valued at $291,000 after purchasing an additional 45 shares in the last quarter.
SPDR S&P 1500 Momentum Tilt ETF Stock Down 1.4%
SPDR S&P 1500 Momentum Tilt ETF stock traded down $4.23 during mid-day trading on Friday, hitting $299.56. 1,253 shares of the company were exchanged, compared to its average volume of 1,900. The business has a fifty day moving average of $306.29 and a 200 day moving average of $307.44. SPDR S&P 1500 Momentum Tilt ETF has a 1-year low of $270.45 and a 1-year high of $323.52. The company has a market capitalization of $128.81 million, a PE ratio of 26.43 and a beta of 1.01.
SPDR S&P 1500 Momentum Tilt ETF Profile
The SPDR S&P 1500 Momentum Tilt ETF (MMTM) is an exchange-traded fund that is based on the S&P 1500 Positive Momentum Tilt index. The fund tracks a tiered index that weights securities from the S&P 1500 according to a combination of their market capitalization and their price momentum over the previous 12 months. MMTM was launched on Oct 24, 2012 and is managed by State Street.
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