Invesco S&P MidCap Momentum ETF (NYSEARCA:XMMO) Sets New 52-Week High – Still a Buy?

Shares of Invesco S&P MidCap Momentum ETF (NYSEARCA:XMMO) reached a new 52-week high on Tuesday . The company traded as high as $160.46 and last traded at $160.27, with a volume of 22576 shares. The stock had previously closed at $158.86.

Invesco S&P MidCap Momentum ETF Stock Down 0.3%

The company has a market cap of $6.50 billion, a P/E ratio of 22.06 and a beta of 1.08. The business has a 50-day moving average price of $148.35 and a two-hundred day moving average price of $141.95.

Hedge Funds Weigh In On Invesco S&P MidCap Momentum ETF

Several hedge funds have recently added to or reduced their stakes in the stock. LPL Financial LLC lifted its stake in Invesco S&P MidCap Momentum ETF by 11.4% in the fourth quarter. LPL Financial LLC now owns 3,472,670 shares of the company’s stock valued at $480,826,000 after buying an additional 355,614 shares during the period. Cetera Investment Advisers lifted its stake in Invesco S&P MidCap Momentum ETF by 11.3% in the fourth quarter. Cetera Investment Advisers now owns 1,251,835 shares of the company’s stock valued at $173,329,000 after buying an additional 127,090 shares during the period. Vantagepoint Investment Advisers LLC acquired a new position in Invesco S&P MidCap Momentum ETF in the third quarter valued at about $161,994,000. Wells Fargo & Company MN lifted its stake in Invesco S&P MidCap Momentum ETF by 13.5% in the fourth quarter. Wells Fargo & Company MN now owns 1,058,740 shares of the company’s stock valued at $146,593,000 after buying an additional 125,898 shares during the period. Finally, Northwestern Mutual Wealth Management Co. lifted its stake in Invesco S&P MidCap Momentum ETF by 9.0% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 927,629 shares of the company’s stock valued at $128,440,000 after buying an additional 76,532 shares during the period.

Invesco S&P MidCap Momentum ETF Company Profile

The Invesco S&P MidCap Momentum ETF (XMMO) is an exchange-traded fund that is based on the S&P MidCap 400 Momentum (USD) index. The fund tracks an index of S&P 400 MidCap stocks selected by momentum and weighted by market cap and momentum. XMMO was launched on Mar 3, 2005 and is managed by Invesco.