Wedmont Private Capital Makes New $231,000 Investment in Invesco S&P 500 Momentum ETF (NYSEARCA:SPMO)

Wedmont Private Capital bought a new position in shares of Invesco S&P 500 Momentum ETF (NYSEARCA:SPMO) during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 2,535 shares of the company’s stock, valued at approximately $231,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in SPMO. Envestnet Asset Management Inc. boosted its holdings in Invesco S&P 500 Momentum ETF by 36.4% during the second quarter. Envestnet Asset Management Inc. now owns 5,461,136 shares of the company’s stock worth $477,631,000 after buying an additional 1,456,957 shares during the last quarter. Orion Portfolio Solutions LLC acquired a new stake in shares of Invesco S&P 500 Momentum ETF during the first quarter worth about $46,012,000. Advance Capital Management Inc. acquired a new stake in shares of Invesco S&P 500 Momentum ETF during the first quarter worth about $37,208,000. LPL Financial LLC raised its position in shares of Invesco S&P 500 Momentum ETF by 33.7% during the second quarter. LPL Financial LLC now owns 1,129,339 shares of the company’s stock worth $98,772,000 after purchasing an additional 284,359 shares during the period. Finally, Osaic Holdings Inc. raised its position in shares of Invesco S&P 500 Momentum ETF by 141.5% during the first quarter. Osaic Holdings Inc. now owns 475,857 shares of the company’s stock worth $38,137,000 after purchasing an additional 278,798 shares during the period.

Invesco S&P 500 Momentum ETF Price Performance

NYSEARCA SPMO opened at $93.67 on Monday. The firm has a market cap of $1.51 billion, a P/E ratio of 20.66 and a beta of 1.00. The stock’s 50-day moving average is $88.32 and its 200-day moving average is $84.84. Invesco S&P 500 Momentum ETF has a one year low of $55.32 and a one year high of $93.70.

Invesco S&P 500 Momentum ETF Company 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.