Invesco S&P 500 Momentum ETF $SPMO is Nova Wealth Management Inc.’s 2nd Largest Position

Nova Wealth Management Inc. grew its position in Invesco S&P 500 Momentum ETF (NYSEARCA:SPMO) by 36.5% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 56,650 shares of the company’s stock after purchasing an additional 15,152 shares during the quarter. Invesco S&P 500 Momentum ETF makes up 4.7% of Nova Wealth Management Inc.’s portfolio, making the stock its 2nd biggest position. Nova Wealth Management Inc.’s holdings in Invesco S&P 500 Momentum ETF were worth $6,371,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the company. WealthShield Partners LLC lifted its holdings in shares of Invesco S&P 500 Momentum ETF by 51.2% in the 1st quarter. WealthShield Partners LLC now owns 307 shares of the company’s stock worth $28,000 after buying an additional 104 shares during the period. Investor s Fiduciary Advisor Network LLC lifted its holdings in shares of Invesco S&P 500 Momentum ETF by 2.3% in the 1st quarter. Investor s Fiduciary Advisor Network LLC now owns 4,983 shares of the company’s stock worth $461,000 after buying an additional 111 shares during the period. Nwam LLC lifted its holdings in shares of Invesco S&P 500 Momentum ETF by 3.6% in the 1st quarter. Nwam LLC now owns 3,951 shares of the company’s stock worth $366,000 after buying an additional 137 shares during the period. Horizon Investment Services LLC lifted its holdings in shares of Invesco S&P 500 Momentum ETF by 1.1% in the 1st quarter. Horizon Investment Services LLC now owns 13,483 shares of the company’s stock worth $1,248,000 after buying an additional 143 shares during the period. Finally, Bush Investment Group LLC lifted its holdings in shares of Invesco S&P 500 Momentum ETF by 1.5% in the 2nd quarter. Bush Investment Group LLC now owns 10,044 shares of the company’s stock worth $1,130,000 after buying an additional 145 shares during the period.

Invesco S&P 500 Momentum ETF Trading Up 0.3%

Shares of SPMO stock opened at $120.48 on Friday. The stock has a market capitalization of $11.45 billion, a price-to-earnings ratio of 29.51 and a beta of 0.89. Invesco S&P 500 Momentum ETF has a twelve month low of $78.25 and a twelve month high of $120.64. The stock has a fifty day simple moving average of $115.67 and a two-hundred day simple moving average of $104.67.

About Invesco S&P 500 Momentum ETF

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.