HBW Advisory Services LLC Makes New Investment in Invesco S&P 500 Momentum ETF (NYSEARCA:SPMO)

HBW Advisory Services LLC purchased a new stake in shares of Invesco S&P 500 Momentum ETF (NYSEARCA:SPMO) during the third quarter, Holdings Channel reports. The fund purchased 147,005 shares of the company’s stock, valued at approximately $13,325,000. Invesco S&P 500 Momentum ETF accounts for approximately 1.9% of HBW Advisory Services LLC’s investment portfolio, making the stock its 8th largest holding.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Envestnet Asset Management Inc. boosted its position in Invesco S&P 500 Momentum ETF by 36.4% during the 2nd quarter. Envestnet Asset Management Inc. now owns 5,461,136 shares of the company’s stock worth $477,631,000 after buying an additional 1,456,957 shares during the period. Orion Portfolio Solutions LLC acquired a new stake in shares of Invesco S&P 500 Momentum ETF in the first quarter valued at about $46,012,000. Advance Capital Management Inc. bought a new position in shares of Invesco S&P 500 Momentum ETF during the first quarter worth about $37,208,000. LPL Financial LLC lifted its stake in shares of Invesco S&P 500 Momentum ETF by 33.7% in the second quarter. LPL Financial LLC now owns 1,129,339 shares of the company’s stock worth $98,772,000 after acquiring an additional 284,359 shares during the period. Finally, Osaic Holdings Inc. boosted its holdings in Invesco S&P 500 Momentum ETF by 141.5% in the first quarter. Osaic Holdings Inc. now owns 475,857 shares of the company’s stock valued at $38,137,000 after acquiring an additional 278,798 shares during the last quarter.

Invesco S&P 500 Momentum ETF Stock Up 1.1 %

Invesco S&P 500 Momentum ETF stock traded up $0.98 during mid-day trading on Friday, hitting $91.29. 354,658 shares of the stock were exchanged, compared to its average volume of 536,938. The stock has a market capitalization of $1.47 billion, a price-to-earnings ratio of 20.66 and a beta of 1.00. Invesco S&P 500 Momentum ETF has a 12 month low of $55.32 and a 12 month high of $91.96. The firm’s fifty day simple moving average is $87.33 and its two-hundred day simple moving average is $84.30.

Invesco S&P 500 Momentum ETF 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.