Perennial Investment Advisors LLC Makes New $1.54 Million Investment in Invesco S&P 500 Momentum ETF (NYSEARCA:SPMO)

Perennial Investment Advisors LLC purchased a new stake in shares of Invesco S&P 500 Momentum ETF (NYSEARCA:SPMO) during the 4th quarter, HoldingsChannel.com reports. The institutional investor purchased 16,152 shares of the company’s stock, valued at approximately $1,535,000.

Other hedge funds have also recently modified their holdings of the company. Raymond James Financial Inc. purchased a new position in Invesco S&P 500 Momentum ETF during the fourth quarter worth about $14,373,000. Stratos Wealth Partners LTD. raised its position in shares of Invesco S&P 500 Momentum ETF by 61.3% during the 4th quarter. Stratos Wealth Partners LTD. now owns 10,065 shares of the company’s stock valued at $956,000 after buying an additional 3,826 shares during the period. Jane Street Group LLC purchased a new position in Invesco S&P 500 Momentum ETF in the third quarter worth approximately $326,000. Truist Financial Corp increased its stake in Invesco S&P 500 Momentum ETF by 22.6% during the fourth quarter. Truist Financial Corp now owns 12,884 shares of the company’s stock worth $1,224,000 after acquiring an additional 2,379 shares during the last quarter. Finally, US Bancorp DE raised its position in Invesco S&P 500 Momentum ETF by 145.9% in the fourth quarter. US Bancorp DE now owns 14,727 shares of the company’s stock valued at $1,399,000 after purchasing an additional 8,739 shares during the period.

Invesco S&P 500 Momentum ETF Trading Down 7.1 %

NYSEARCA SPMO opened at $82.32 on Friday. The stock has a fifty day simple moving average of $97.33 and a 200-day simple moving average of $95.74. The stock has a market cap of $4.80 billion, a PE ratio of 24.93 and a beta of 0.93. Invesco S&P 500 Momentum ETF has a twelve month low of $74.40 and a twelve month high of $103.44.

Invesco S&P 500 Momentum ETF Increases Dividend

The business also recently declared a dividend, which was paid on Friday, March 28th. Shareholders of record on Monday, March 24th were given a dividend of $0.1794 per share. The ex-dividend date of this dividend was Monday, March 24th. This is a boost from Invesco S&P 500 Momentum ETF’s previous dividend of $0.07.

Invesco S&P 500 Momentum ETF 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.