Redwood Financial Network Corp Makes New Investment in Invesco S&P 500 Momentum ETF $SPMO

Redwood Financial Network Corp purchased a new position in Invesco S&P 500 Momentum ETF (NYSEARCA:SPMO) in the fourth quarter, HoldingsChannel reports. The institutional investor purchased 6,411 shares of the company’s stock, valued at approximately $765,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Lantern Wealth Advisors LLC raised its holdings in shares of Invesco S&P 500 Momentum ETF by 3.5% in the third quarter. Lantern Wealth Advisors LLC now owns 2,634 shares of the company’s stock worth $319,000 after buying an additional 88 shares during the last quarter. Caliber Wealth Management LLC KS raised its holdings in shares of Invesco S&P 500 Momentum ETF by 4.9% in the third quarter. Caliber Wealth Management LLC KS now owns 1,945 shares of the company’s stock worth $235,000 after buying an additional 90 shares during the last quarter. LexAurum Advisors LLC raised its holdings in shares of Invesco S&P 500 Momentum ETF by 4.3% in the third quarter. LexAurum Advisors LLC now owns 2,225 shares of the company’s stock worth $269,000 after buying an additional 92 shares during the last quarter. GK Wealth Management LLC raised its holdings in shares of Invesco S&P 500 Momentum ETF by 4.1% in the third quarter. GK Wealth Management LLC now owns 2,497 shares of the company’s stock worth $302,000 after buying an additional 99 shares during the last quarter. Finally, Fourth Dimension Wealth LLC raised its holdings in shares of Invesco S&P 500 Momentum ETF by 25.0% in the third quarter. Fourth Dimension Wealth LLC now owns 500 shares of the company’s stock worth $61,000 after buying an additional 100 shares during the last quarter.

Invesco S&P 500 Momentum ETF Stock Performance

NYSEARCA SPMO opened at $150.59 on Monday. The company has a fifty day simple moving average of $130.28 and a two-hundred day simple moving average of $123.04. The stock has a market cap of $18.36 billion, a P/E ratio of 29.51 and a beta of 1.09. Invesco S&P 500 Momentum ETF has a 12-month low of $103.99 and a 12-month high of $151.91.

Invesco S&P 500 Momentum ETF 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.