Invesco S&P MidCap Momentum ETF (NYSEARCA:XMMO) Hits New 52-Week High – What’s Next?

Invesco S&P MidCap Momentum ETF (NYSEARCA:XMMO) hit a new 52-week high on Tuesday . The company traded as high as $157.12 and last traded at $156.94, with a volume of 359432 shares. The stock had previously closed at $155.65.

Invesco S&P MidCap Momentum ETF Price Performance

The company has a market capitalization of $6.33 billion, a P/E ratio of 22.06 and a beta of 1.08. The stock’s 50 day simple moving average is $146.97 and its two-hundred day simple moving average is $141.16.

Hedge Funds Weigh In On Invesco S&P MidCap Momentum ETF

A number of institutional investors have recently modified their holdings of XMMO. Capstone Wealth Management Group LLC raised its stake in shares of Invesco S&P MidCap Momentum ETF by 148.4% in the first quarter. Capstone Wealth Management Group LLC now owns 28,228 shares of the company’s stock worth $3,211,000 after acquiring an additional 16,865 shares during the last quarter. AQR Capital Management LLC raised its stake in shares of Invesco S&P MidCap Momentum ETF by 17.4% in the first quarter. AQR Capital Management LLC now owns 12,835 shares of the company’s stock worth $1,460,000 after acquiring an additional 1,905 shares during the last quarter. Cerity Partners LLC bought a new stake in shares of Invesco S&P MidCap Momentum ETF during the second quarter worth approximately $3,587,000. Raymond James Financial Inc. raised its stake in shares of Invesco S&P MidCap Momentum ETF by 5.0% during the second quarter. Raymond James Financial Inc. now owns 667,770 shares of the company’s stock worth $85,895,000 after buying an additional 31,948 shares during the last quarter. Finally, Jupiter Wealth Management LLC bought a new stake in shares of Invesco S&P MidCap Momentum ETF during the second quarter worth approximately $2,120,000.

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.