Invesco S&P MidCap Momentum ETF (NYSEARCA:XMMO) Sees Strong Trading Volume – Still a Buy?

Invesco S&P MidCap Momentum ETF (NYSEARCA:XMMO) saw an uptick in trading volume on Tuesday . 811,155 shares were traded during mid-day trading, an increase of 101% from the previous session’s volume of 403,509 shares.The stock last traded at $127.72 and had previously closed at $129.69.

Invesco S&P MidCap Momentum ETF Price Performance

The firm’s 50-day moving average price is $128.60 and its 200 day moving average price is $123.76. The firm has a market capitalization of $2.50 billion, a price-to-earnings 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 the company. Raymond James Financial Inc. purchased a new position in Invesco S&P MidCap Momentum ETF during the fourth quarter worth about $66,383,000. Mainstay Capital Management LLC ADV purchased a new position in shares of Invesco S&P MidCap Momentum ETF during the 4th quarter worth about $35,394,000. LPL Financial LLC boosted its position in shares of Invesco S&P MidCap Momentum ETF by 19.3% in the third quarter. LPL Financial LLC now owns 1,744,946 shares of the company’s stock worth $209,969,000 after acquiring an additional 282,112 shares during the last quarter. Principal Securities Inc. grew its holdings in Invesco S&P MidCap Momentum ETF by 918.3% in the fourth quarter. Principal Securities Inc. now owns 248,852 shares of the company’s stock valued at $30,741,000 after purchasing an additional 224,413 shares during the period. Finally, Win Advisors Inc. acquired a new position in Invesco S&P MidCap Momentum ETF during the fourth quarter worth approximately $12,249,000.

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.