Financial Advocates Investment Management Increases Stock Position in Invesco S&P 500 Momentum ETF (NYSEARCA:SPMO)

Financial Advocates Investment Management increased its stake in shares of Invesco S&P 500 Momentum ETF (NYSEARCA:SPMO) by 16.0% in the 4th quarter, Holdings Channel reports. The firm owned 40,003 shares of the company’s stock after buying an additional 5,523 shares during the period. Financial Advocates Investment Management’s holdings in Invesco S&P 500 Momentum ETF were worth $3,801,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. PSI Advisors LLC raised its stake in Invesco S&P 500 Momentum ETF by 61.8% during the 4th quarter. PSI Advisors LLC now owns 288 shares of the company’s stock valued at $27,000 after buying an additional 110 shares during the last quarter. Global Trust Asset Management LLC grew its holdings in shares of Invesco S&P 500 Momentum ETF by 95.5% in the fourth quarter. Global Trust Asset Management LLC now owns 430 shares of the company’s stock worth $41,000 after acquiring an additional 210 shares during the period. Continuum Advisory LLC increased its position in Invesco S&P 500 Momentum ETF by 44.2% during the third quarter. Continuum Advisory LLC now owns 705 shares of the company’s stock valued at $67,000 after acquiring an additional 216 shares during the last quarter. Legacy Investment Solutions LLC bought a new position in Invesco S&P 500 Momentum ETF in the third quarter valued at about $76,000. Finally, AdvisorNet Financial Inc boosted its position in Invesco S&P 500 Momentum ETF by 85.7% in the fourth quarter. AdvisorNet Financial Inc now owns 1,302 shares of the company’s stock worth $124,000 after purchasing an additional 601 shares during the last quarter.

Invesco S&P 500 Momentum ETF Stock Up 1.3 %

NYSEARCA SPMO opened at $101.92 on Thursday. The company has a 50-day moving average price of $97.50 and a 200-day moving average price of $92.64. Invesco S&P 500 Momentum ETF has a 52 week low of $72.33 and a 52 week high of $102.03. The firm has a market capitalization of $1.64 billion, a P/E ratio of 20.66 and a beta of 1.00.

Invesco S&P 500 Momentum ETF Profile

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.