Synergy Asset Management LLC Purchases New Shares in Invesco S&P 500 Momentum ETF (NYSEARCA:SPMO)

Synergy Asset Management LLC acquired a new position in Invesco S&P 500 Momentum ETF (NYSEARCA:SPMO) in the first quarter, HoldingsChannel.com reports. The fund acquired 56,981 shares of the company’s stock, valued at approximately $4,571,000.

Several other hedge funds have also modified their holdings of SPMO. Global Trust Asset Management LLC acquired a new position in Invesco S&P 500 Momentum ETF during the first quarter worth $34,000. Private Trust Co. NA purchased a new position in Invesco S&P 500 Momentum ETF in the 4th quarter valued at about $77,000. Bell Investment Advisors Inc acquired a new stake in Invesco S&P 500 Momentum ETF in the 4th quarter worth about $151,000. Brookstone Capital Management purchased a new stake in Invesco S&P 500 Momentum ETF during the 1st quarter worth approximately $214,000. Finally, Foster Group Inc. acquired a new position in shares of Invesco S&P 500 Momentum ETF during the first quarter valued at approximately $222,000.

Invesco S&P 500 Momentum ETF Stock Up 0.4 %

Shares of NYSEARCA SPMO traded up $0.31 during midday trading on Tuesday, hitting $88.31. The stock had a trading volume of 267,739 shares, compared to its average volume of 321,966. The stock has a 50 day simple moving average of $82.35 and a 200-day simple moving average of $76.57. The company has a market capitalization of $1.42 billion, a PE ratio of 20.66 and a beta of 1.00. Invesco S&P 500 Momentum ETF has a 1 year low of $54.94 and a 1 year high of $89.23.

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.