Invesco S&P 500 Momentum ETF (NYSEARCA:SPMO) Sets New 52-Week High – Still a Buy?

Shares of Invesco S&P 500 Momentum ETF (NYSEARCA:SPMO) hit a new 52-week high on Tuesday . The company traded as high as $148.40 and last traded at $148.38, with a volume of 269572 shares trading hands. The stock had previously closed at $144.94.

Invesco S&P 500 Momentum ETF Trading Up 2.8%

The business has a fifty day simple moving average of $127.61 and a two-hundred day simple moving average of $122.17. The company has a market cap of $18.17 billion, a PE ratio of 29.51 and a beta of 1.09.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. LPL Financial LLC boosted its stake in Invesco S&P 500 Momentum ETF by 2.8% during the fourth quarter. LPL Financial LLC now owns 6,624,488 shares of the company’s stock worth $790,434,000 after buying an additional 182,485 shares during the last quarter. CWM LLC grew its position in shares of Invesco S&P 500 Momentum ETF by 14.1% in the fourth quarter. CWM LLC now owns 2,992,182 shares of the company’s stock valued at $357,027,000 after purchasing an additional 369,627 shares during the period. Bank of America Corp DE lifted its stake in shares of Invesco S&P 500 Momentum ETF by 15.5% during the third quarter. Bank of America Corp DE now owns 2,785,766 shares of the company’s stock worth $337,245,000 after purchasing an additional 374,417 shares in the last quarter. Morgan Stanley lifted its stake in shares of Invesco S&P 500 Momentum ETF by 8.1% in the fourth quarter. Morgan Stanley now owns 2,682,877 shares of the company’s stock worth $320,121,000 after acquiring an additional 199,934 shares in the last quarter. Finally, Raymond James Financial Inc. grew its holdings in shares of Invesco S&P 500 Momentum ETF by 28.7% during the fourth quarter. Raymond James Financial Inc. now owns 1,726,149 shares of the company’s stock valued at $205,964,000 after purchasing an additional 385,146 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.