Envestnet Portfolio Solutions Inc. Increases Position in Invesco S&P 500 Momentum ETF (NYSEARCA:SPMO)

Envestnet Portfolio Solutions Inc. raised its position in shares of Invesco S&P 500 Momentum ETF (NYSEARCA:SPMO) by 23.1% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 143,263 shares of the company’s stock after purchasing an additional 26,876 shares during the period. Envestnet Portfolio Solutions Inc. owned approximately 0.89% of Invesco S&P 500 Momentum ETF worth $12,530,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in SPMO. Global Trust Asset Management LLC bought a new position in Invesco S&P 500 Momentum ETF during the 1st quarter worth approximately $34,000. ORG Partners LLC bought a new stake in shares of Invesco S&P 500 Momentum ETF in the second quarter worth about $38,000. YHB Investment Advisors Inc. bought a new position in Invesco S&P 500 Momentum ETF during the 1st quarter valued at approximately $50,000. Richardson Financial Services Inc. purchased a new stake in Invesco S&P 500 Momentum ETF in the 1st quarter worth approximately $60,000. Finally, Bell Investment Advisors Inc bought a new stake in shares of Invesco S&P 500 Momentum ETF in the 4th quarter worth approximately $151,000.

Invesco S&P 500 Momentum ETF Stock Up 2.0 %

Shares of SPMO traded up $1.75 during mid-day trading on Thursday, hitting $88.25. 461,232 shares of the company’s stock traded hands, compared to its average volume of 445,300. The business’s 50-day moving average price is $86.53 and its 200-day moving average price is $81.01. Invesco S&P 500 Momentum ETF has a 1 year low of $55.32 and a 1 year high of $91.64. The firm has a market capitalization of $1.42 billion, a P/E ratio of 20.66 and a beta of 1.00.

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.