Invesco S&P 500 Momentum ETF (NYSEARCA:SPMO) Sets New 52-Week High – Here’s Why

Invesco S&P 500 Momentum ETF (NYSEARCA:SPMO) shares reached a new 52-week high on Monday . The stock traded as high as $135.49 and last traded at $135.36, with a volume of 390554 shares traded. The stock had previously closed at $134.42.

Invesco S&P 500 Momentum ETF Stock Performance

The firm has a market capitalization of $16.39 billion, a P/E ratio of 29.51 and a beta of 1.09. The firm has a 50 day moving average price of $120.37 and a two-hundred day moving average price of $119.85.

Institutional Investors Weigh In On Invesco S&P 500 Momentum ETF

Several large investors have recently modified their holdings of SPMO. Evolution Wealth Management Inc. boosted its position in shares of Invesco S&P 500 Momentum ETF by 468.7% in the third quarter. Evolution Wealth Management Inc. now owns 7,410 shares of the company’s stock worth $897,000 after buying an additional 6,107 shares during the period. Dynamic Advisor Solutions LLC boosted its position in shares of Invesco S&P 500 Momentum ETF by 116.7% in the fourth quarter. Dynamic Advisor Solutions LLC now owns 106,101 shares of the company’s stock worth $12,660,000 after buying an additional 57,149 shares during the period. IFP Advisors Inc boosted its position in shares of Invesco S&P 500 Momentum ETF by 98.0% in the third quarter. IFP Advisors Inc now owns 10,833 shares of the company’s stock worth $1,311,000 after buying an additional 5,361 shares during the period. Benjamin Edwards Inc. acquired a new stake in shares of Invesco S&P 500 Momentum ETF in the third quarter worth $1,654,000. Finally, CIBC Private Wealth Group LLC boosted its position in shares of Invesco S&P 500 Momentum ETF by 7,363.6% in the third quarter. CIBC Private Wealth Group LLC now owns 15,972 shares of the company’s stock worth $1,934,000 after buying an additional 15,758 shares during the period.

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.