Invesco S&P 500 Momentum ETF $SPMO is Nova Wealth Management Inc.’s 4th Largest Position

Nova Wealth Management Inc. grew its stake in Invesco S&P 500 Momentum ETF (NYSEARCA:SPMO) by 17.0% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 41,498 shares of the company’s stock after buying an additional 6,042 shares during the quarter. Invesco S&P 500 Momentum ETF accounts for approximately 3.3% of Nova Wealth Management Inc.’s portfolio, making the stock its 4th biggest position. Nova Wealth Management Inc.’s holdings in Invesco S&P 500 Momentum ETF were worth $3,840,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in SPMO. Comerica Bank purchased a new position in shares of Invesco S&P 500 Momentum ETF in the 4th quarter valued at about $68,000. Jane Street Group LLC boosted its stake in shares of Invesco S&P 500 Momentum ETF by 151.7% in the 4th quarter. Jane Street Group LLC now owns 9,045 shares of the company’s stock valued at $859,000 after buying an additional 5,452 shares during the period. Ameriprise Financial Inc. boosted its stake in shares of Invesco S&P 500 Momentum ETF by 31.4% in the 4th quarter. Ameriprise Financial Inc. now owns 7,499 shares of the company’s stock valued at $712,000 after buying an additional 1,793 shares during the period. Redwood Investment Management LLC lifted its stake in Invesco S&P 500 Momentum ETF by 369.9% during the fourth quarter. Redwood Investment Management LLC now owns 23,848 shares of the company’s stock worth $2,266,000 after purchasing an additional 18,773 shares during the last quarter. Finally, Stonebrook Private Inc. purchased a new stake in Invesco S&P 500 Momentum ETF during the fourth quarter worth approximately $4,843,000.

Invesco S&P 500 Momentum ETF Stock Up 0.5%

SPMO stock opened at $120.13 on Friday. The business has a 50 day moving average price of $115.51 and a 200 day moving average price of $104.49. The stock has a market cap of $11.41 billion, a price-to-earnings ratio of 29.51 and a beta of 0.89. Invesco S&P 500 Momentum ETF has a fifty-two week low of $78.25 and a fifty-two week high of $120.35.

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.