Invesco S&P 500 Momentum ETF (NYSEARCA:SPMO) Hits New 1-Year High – Should You Buy?

Invesco S&P 500 Momentum ETF (NYSEARCA:SPMO)’s stock price hit a new 52-week high on Thursday . The stock traded as high as $103.18 and last traded at $103.15, with a volume of 830673 shares changing hands. The stock had previously closed at $102.40.

Invesco S&P 500 Momentum ETF Stock Performance

The stock has a market cap of $1.66 billion, a PE ratio of 20.66 and a beta of 1.00. The firm has a 50-day moving average price of $98.17 and a 200-day moving average price of $93.29.

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

A number of institutional investors have recently made changes to their positions in SPMO. Mainstay Capital Management LLC ADV lifted its position in Invesco S&P 500 Momentum ETF by 374.5% during the fourth quarter. Mainstay Capital Management LLC ADV now owns 1,216,892 shares of the company’s stock valued at $115,617,000 after purchasing an additional 960,418 shares during the period. LPL Financial LLC increased its stake in shares of Invesco S&P 500 Momentum ETF by 75.3% in the 4th quarter. LPL Financial LLC now owns 2,178,729 shares of the company’s stock worth $207,001,000 after purchasing an additional 935,951 shares in the last quarter. JPMorgan Chase & Co. increased its stake in shares of Invesco S&P 500 Momentum ETF by 391,013.3% in the 4th quarter. JPMorgan Chase & Co. now owns 617,959 shares of the company’s stock worth $58,712,000 after purchasing an additional 617,801 shares in the last quarter. Wells Fargo & Company MN raised its holdings in Invesco S&P 500 Momentum ETF by 75,657.3% in the 4th quarter. Wells Fargo & Company MN now owns 312,120 shares of the company’s stock worth $29,655,000 after purchasing an additional 311,708 shares during the period. Finally, World Investment Advisors LLC lifted its position in Invesco S&P 500 Momentum ETF by 1,416.7% during the third quarter. World Investment Advisors LLC now owns 300,875 shares of the company’s stock valued at $27,271,000 after purchasing an additional 281,038 shares in 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.