Invesco S&P MidCap 400 GARP ETF (NYSEARCA:GRPM) Sees Large Volume Increase – Still a Buy?

Invesco S&P MidCap 400 GARP ETF (NYSEARCA:GRPM) shares saw unusually-strong trading volume on Tuesday. 285,912 shares changed hands during mid-day trading, an increase of 1,685% from the previous session’s volume of 16,013 shares. The stock last traded at $142.7890 and had previously closed at $140.59.

Invesco S&P MidCap 400 GARP ETF Stock Performance

The stock’s 50 day simple moving average is $140.88 and its two-hundred day simple moving average is $132.93. The firm has a market capitalization of $521.04 million, a PE ratio of 13.88 and a beta of 1.03.

Hedge Funds Weigh In On Invesco S&P MidCap 400 GARP ETF

Institutional investors have recently added to or reduced their stakes in the stock. Bank of America Corp DE grew its holdings in shares of Invesco S&P MidCap 400 GARP ETF by 49.9% in the first quarter. Bank of America Corp DE now owns 144,156 shares of the company’s stock valued at $17,044,000 after purchasing an additional 47,957 shares during the period. SeedSafe Financial LLC purchased a new position in Invesco S&P MidCap 400 GARP ETF during the second quarter worth about $425,000. Cetera Investment Advisers raised its stake in Invesco S&P MidCap 400 GARP ETF by 2.3% during the first quarter. Cetera Investment Advisers now owns 75,046 shares of the company’s stock worth $8,873,000 after purchasing an additional 1,715 shares during the period. Axxcess Wealth Management LLC boosted its holdings in Invesco S&P MidCap 400 GARP ETF by 4.8% in the 1st quarter. Axxcess Wealth Management LLC now owns 36,607 shares of the company’s stock valued at $4,328,000 after purchasing an additional 1,664 shares during the last quarter. Finally, Main Street Group LTD boosted its holdings in Invesco S&P MidCap 400 GARP ETF by 76.2% in the 1st quarter. Main Street Group LTD now owns 3,078 shares of the company’s stock valued at $364,000 after purchasing an additional 1,331 shares during the last quarter.

Invesco S&P MidCap 400 GARP ETF Company Profile

The Invesco S&P MidCap 400 GARP ETF (GRPM) is an exchange-traded fund that is based on the S&P MidCap 400 GARP index. The fund tracks an index of US mid-cap growth stocks with perceived quality and value characteristics. GRPM was launched on Dec 8, 2010 and is issued by Invesco.