Invesco S&P MidCap Momentum ETF (NYSEARCA:XMMO) Reaches New 52-Week High – Time to Buy?

Invesco S&P MidCap Momentum ETF (NYSEARCA:XMMO) shares hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $132.33 and last traded at $131.94, with a volume of 39646 shares trading hands. The stock had previously closed at $131.95.

Invesco S&P MidCap Momentum ETF Trading Down 1.0 %

The firm has a 50 day moving average of $120.62 and a two-hundred day moving average of $116.81. The stock has a market capitalization of $2.56 billion, a PE ratio of 19.24 and a beta of 1.12.

Institutional Investors Weigh In On Invesco S&P MidCap Momentum ETF

Several hedge funds have recently modified their holdings of XMMO. Glass Jacobson Investment Advisors llc acquired a new stake in shares of Invesco S&P MidCap Momentum ETF in the second quarter valued at approximately $26,000. Newbridge Financial Services Group Inc. bought a new stake in Invesco S&P MidCap Momentum ETF during the second quarter valued at about $26,000. Concourse Financial Group Securities Inc. increased its holdings in shares of Invesco S&P MidCap Momentum ETF by 114.2% during the 2nd quarter. Concourse Financial Group Securities Inc. now owns 242 shares of the company’s stock worth $28,000 after purchasing an additional 129 shares during the period. Howe & Rusling Inc. acquired a new stake in shares of Invesco S&P MidCap Momentum ETF during the 3rd quarter valued at about $30,000. Finally, Pineridge Advisors LLC bought a new stake in Invesco S&P MidCap Momentum ETF during the first quarter worth about $34,000.

Invesco S&P MidCap Momentum ETF Company Profile

The Invesco S&P MidCap Momentum ETF (XMMO) is an exchange-traded fund that is based on the S&P MidCap 400 Momentum (USD) index. The fund tracks an index of S&P 400 MidCap stocks selected by momentum and weighted by market cap and momentum. XMMO was launched on Mar 3, 2005 and is managed by Invesco.