Invesco S&P 500 Momentum ETF (NYSEARCA:SPMO) Reaches New 12-Month High – Should You Buy?

Invesco S&P 500 Momentum ETF (NYSEARCA:SPMO) hit a new 52-week high on Monday . The stock traded as high as $105.20 and last traded at $104.75, with a volume of 545989 shares changing hands. The stock had previously closed at $105.20.

Invesco S&P 500 Momentum ETF Price Performance

The company’s 50-day simple moving average is $93.91 and its 200-day simple moving average is $96.29. The stock has a market capitalization of $6.98 billion, a P/E ratio of 27.23 and a beta of 0.97.

Institutional Trading of Invesco S&P 500 Momentum ETF

Institutional investors and hedge funds have recently bought and sold shares of the stock. Fourth Dimension Wealth LLC bought a new stake in shares of Invesco S&P 500 Momentum ETF in the 1st quarter worth approximately $28,000. WealthShield Partners LLC increased its stake in shares of Invesco S&P 500 Momentum ETF by 51.2% during the first quarter. WealthShield Partners LLC now owns 307 shares of the company’s stock valued at $28,000 after purchasing an additional 104 shares in the last quarter. ORG Wealth Partners LLC bought a new position in shares of Invesco S&P 500 Momentum ETF during the first quarter valued at $40,000. Global Trust Asset Management LLC grew its position in Invesco S&P 500 Momentum ETF by 95.5% during the fourth quarter. Global Trust Asset Management LLC now owns 430 shares of the company’s stock valued at $41,000 after buying an additional 210 shares during the period. Finally, Bank Julius Baer & Co. Ltd Zurich purchased a new position in shares of Invesco S&P 500 Momentum ETF during the 4th quarter valued at about $48,000.

Invesco S&P 500 Momentum ETF Company 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.