Invesco S&P MidCap Momentum ETF (NYSEARCA:XMMO) Hits New 52-Week High – Time to Buy?

Shares of Invesco S&P MidCap Momentum ETF (NYSEARCA:XMMO) hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $147.72 and last traded at $145.31, with a volume of 272430 shares. The stock had previously closed at $146.42.

Invesco S&P MidCap Momentum ETF Price Performance

The stock has a market capitalization of $5.41 billion, a PE ratio of 22.06 and a beta of 1.05. The business’s fifty day moving average price is $141.33 and its two-hundred day moving average price is $136.48.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of XMMO. Principal Securities Inc. boosted its holdings in shares of Invesco S&P MidCap Momentum ETF by 9.9% during the 4th quarter. Principal Securities Inc. now owns 69,627 shares of the company’s stock worth $9,641,000 after purchasing an additional 6,279 shares during the last quarter. Great Valley Advisor Group Inc. increased its holdings in shares of Invesco S&P MidCap Momentum ETF by 89.1% in the fourth quarter. Great Valley Advisor Group Inc. now owns 399,276 shares of the company’s stock valued at $55,284,000 after purchasing an additional 188,111 shares during the last quarter. Kovack Advisors Inc. lifted its position in Invesco S&P MidCap Momentum ETF by 6.1% during the fourth quarter. Kovack Advisors Inc. now owns 62,045 shares of the company’s stock worth $8,259,000 after buying an additional 3,589 shares in the last quarter. Manchester Financial Inc. lifted its position in Invesco S&P MidCap Momentum ETF by 2.7% during the fourth quarter. Manchester Financial Inc. now owns 95,394 shares of the company’s stock worth $13,208,000 after buying an additional 2,543 shares in the last quarter. Finally, Legacy Capital Wealth Management LLC acquired a new position in Invesco S&P MidCap Momentum ETF during the fourth quarter worth $2,400,000.

About Invesco S&P MidCap Momentum ETF

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.