Invesco S&P MidCap 400 GARP ETF (NYSEARCA:GRPM) Sees Strong Trading Volume – Still a Buy?

Invesco S&P MidCap 400 GARP ETF (NYSEARCA:GRPM) saw strong trading volume on Tuesday. 285,912 shares traded hands during trading, an increase of 1,685% from the previous session’s volume of 16,013 shares. The stock last traded at $142.7890 and had previously closed at $140.59.

Invesco S&P MidCap 400 GARP ETF Trading Up 1.5%

The company has a market capitalization of $521.04 million, a price-to-earnings ratio of 13.88 and a beta of 1.03. The stock’s fifty day simple moving average is $140.88 and its 200-day simple moving average is $132.93.

Institutional Trading of Invesco S&P MidCap 400 GARP ETF

Hedge funds have recently modified their holdings of the stock. Bank of America Corp DE boosted its holdings in Invesco S&P MidCap 400 GARP ETF by 49.9% in the first quarter. Bank of America Corp DE now owns 144,156 shares of the company’s stock valued at $17,044,000 after purchasing an additional 47,957 shares during the period. Cetera Investment Advisers raised its position in Invesco S&P MidCap 400 GARP ETF by 2.3% in the 1st quarter. Cetera Investment Advisers now owns 75,046 shares of the company’s stock valued at $8,873,000 after purchasing an additional 1,715 shares in the last quarter. Axxcess Wealth Management LLC raised its position in Invesco S&P MidCap 400 GARP ETF by 4.8% in the 1st quarter. Axxcess Wealth Management LLC now owns 36,607 shares of the company’s stock valued at $4,328,000 after purchasing an additional 1,664 shares in the last quarter. Integrated Wealth Concepts LLC raised its position in Invesco S&P MidCap 400 GARP ETF by 0.6% in the 2nd quarter. Integrated Wealth Concepts LLC now owns 27,185 shares of the company’s stock valued at $3,539,000 after purchasing an additional 157 shares in the last quarter. Finally, Asset Allocation Strategies LLC boosted its stake in shares of Invesco S&P MidCap 400 GARP ETF by 3.5% in the 2nd quarter. Asset Allocation Strategies LLC now owns 18,696 shares of the company’s stock valued at $2,434,000 after buying an additional 624 shares during the period.

About Invesco S&P MidCap 400 GARP ETF

The Invesco S&P MidCap 400 GARP ETF (GRPM) is an exchange-traded fund that is based on the S&P MidCap 400 GARP index. The fund tracks an index of US mid-cap growth stocks with perceived quality and value characteristics. GRPM was launched on Dec 8, 2010 and is issued by Invesco.