Independent Advisor Alliance Makes New $10.95 Million Investment in Invesco S&P 500 Momentum ETF (NYSEARCA:SPMO)

Independent Advisor Alliance purchased a new position in Invesco S&P 500 Momentum ETF (NYSEARCA:SPMO) during the 4th quarter, Holdings Channel reports. The firm purchased 115,222 shares of the company’s stock, valued at approximately $10,947,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Janney Montgomery Scott LLC lifted its holdings in shares of Invesco S&P 500 Momentum ETF by 61.7% during the 3rd quarter. Janney Montgomery Scott LLC now owns 20,859 shares of the company’s stock worth $1,891,000 after acquiring an additional 7,960 shares during the period. Leavell Investment Management Inc. bought a new position in shares of Invesco S&P 500 Momentum ETF during the 3rd quarter worth about $761,000. Sigma Planning Corp lifted its holdings in shares of Invesco S&P 500 Momentum ETF by 50.4% during the 3rd quarter. Sigma Planning Corp now owns 4,702 shares of the company’s stock worth $426,000 after acquiring an additional 1,576 shares during the period. Harbour Investments Inc. lifted its holdings in shares of Invesco S&P 500 Momentum ETF by 21.5% during the 3rd quarter. Harbour Investments Inc. now owns 37,128 shares of the company’s stock worth $3,365,000 after acquiring an additional 6,570 shares during the period. Finally, First Heartland Consultants Inc. lifted its holdings in shares of Invesco S&P 500 Momentum ETF by 20.7% during the 3rd quarter. First Heartland Consultants Inc. now owns 7,923 shares of the company’s stock worth $718,000 after acquiring an additional 1,358 shares during the period.

Invesco S&P 500 Momentum ETF Stock Performance

NYSEARCA:SPMO opened at $92.11 on Tuesday. The company has a 50-day moving average of $99.00 and a 200-day moving average of $95.13. The company has a market capitalization of $5.13 billion, a price-to-earnings ratio of 26.90 and a beta of 0.94. Invesco S&P 500 Momentum ETF has a 52 week low of $74.40 and a 52 week high of $103.44.

Invesco S&P 500 Momentum ETF Company 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.