Invesco S&P 500 Momentum ETF (NYSEARCA:SPMO) Reaches New 52-Week High – Should You Buy?

Invesco S&P 500 Momentum ETF (NYSEARCA:SPMO)’s stock price reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $128.51 and last traded at $127.93, with a volume of 332101 shares. The stock had previously closed at $128.30.

Invesco S&P 500 Momentum ETF Price Performance

The company has a 50-day simple moving average of $118.46 and a 200-day simple moving average of $119.25. The stock has a market cap of $14.92 billion, a PE ratio of 29.51 and a beta of 1.02.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of SPMO. Vantagepoint Investment Advisers LLC purchased a new position in Invesco S&P 500 Momentum ETF in the third quarter worth $317,167,000. BNP Paribas Financial Markets raised its position in Invesco S&P 500 Momentum ETF by 1,586.1% in the fourth quarter. BNP Paribas Financial Markets now owns 1,423,949 shares of the company’s stock worth $169,906,000 after acquiring an additional 1,339,497 shares in the last quarter. Bank of America Corp DE raised its position in Invesco S&P 500 Momentum ETF by 30.4% in the second quarter. Bank of America Corp DE now owns 2,411,349 shares of the company’s stock worth $271,204,000 after acquiring an additional 562,290 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. purchased a new position in Invesco S&P 500 Momentum ETF in the third quarter worth $65,042,000. Finally, JPMorgan Chase & Co. grew its holdings in Invesco S&P 500 Momentum ETF by 75.9% in the fourth quarter. JPMorgan Chase & Co. now owns 1,231,078 shares of the company’s stock valued at $146,892,000 after purchasing an additional 531,093 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.