Meridian Wealth Management LLC Has $29.48 Million Stock Position in Invesco S&P 500 Momentum ETF $SPMO

Meridian Wealth Management LLC lifted its position in shares of Invesco S&P 500 Momentum ETF (NYSEARCA:SPMO) by 465.3% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 243,512 shares of the company’s stock after acquiring an additional 200,439 shares during the quarter. Invesco S&P 500 Momentum ETF makes up about 1.1% of Meridian Wealth Management LLC’s investment portfolio, making the stock its 16th largest position. Meridian Wealth Management LLC’s holdings in Invesco S&P 500 Momentum ETF were worth $29,480,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the company. Evolution Wealth Management Inc. lifted its holdings in Invesco S&P 500 Momentum ETF by 468.7% in the third quarter. Evolution Wealth Management Inc. now owns 7,410 shares of the company’s stock valued at $897,000 after buying an additional 6,107 shares during the period. Benjamin Edwards Inc. acquired a new stake in Invesco S&P 500 Momentum ETF during the 3rd quarter worth $1,654,000. J.W. Cole Advisors Inc. raised its position in shares of Invesco S&P 500 Momentum ETF by 83.1% during the 2nd quarter. J.W. Cole Advisors Inc. now owns 12,858 shares of the company’s stock valued at $1,446,000 after acquiring an additional 5,834 shares during the last quarter. Altus Wealth Group LLC lifted its stake in shares of Invesco S&P 500 Momentum ETF by 4.7% in the 3rd quarter. Altus Wealth Group LLC now owns 137,743 shares of the company’s stock valued at $16,675,000 after purchasing an additional 6,229 shares during the period. Finally, Childress Capital Advisors LLC acquired a new position in shares of Invesco S&P 500 Momentum ETF in the 3rd quarter valued at $5,590,000.

Invesco S&P 500 Momentum ETF Stock Down 0.5%

Shares of Invesco S&P 500 Momentum ETF stock opened at $119.87 on Friday. The business has a fifty day simple moving average of $119.62 and a 200 day simple moving average of $118.81. The stock has a market cap of $13.63 billion, a PE ratio of 29.51 and a beta of 0.98. Invesco S&P 500 Momentum ETF has a 12 month low of $78.25 and a 12 month high of $124.56.

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.