Invesco S&P MidCap Momentum ETF (NYSEARCA:XMMO) Sets New 52-Week High – Should You Buy?

Invesco S&P MidCap Momentum ETF (NYSEARCA:XMMO)’s stock price reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $137.14 and last traded at $136.64, with a volume of 31917 shares changing hands. The stock had previously closed at $136.07.

Invesco S&P MidCap Momentum ETF Price Performance

The business has a 50-day simple moving average of $125.02 and a 200 day simple moving average of $118.52. The firm has a market cap of $2.64 billion, a PE ratio of 19.24 and a beta of 1.12.

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

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Glass Jacobson Investment Advisors llc bought a new stake in Invesco S&P MidCap Momentum ETF during the second quarter valued at about $26,000. Newbridge Financial Services Group Inc. bought a new stake in Invesco S&P MidCap Momentum ETF during the 2nd quarter valued at approximately $26,000. Concourse Financial Group Securities Inc. lifted its holdings in Invesco S&P MidCap Momentum ETF by 114.2% in the 2nd quarter. Concourse Financial Group Securities Inc. now owns 242 shares of the company’s stock worth $28,000 after purchasing an additional 129 shares in the last quarter. Howe & Rusling Inc. bought a new position in Invesco S&P MidCap Momentum ETF in the 3rd quarter worth approximately $30,000. Finally, Larson Financial Group LLC purchased a new stake in Invesco S&P MidCap Momentum ETF during the 2nd quarter valued at approximately $53,000.

Invesco S&P MidCap Momentum ETF Company Profile

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.