StoneCrest Wealth Management Inc. has strengthened its investment in the Invesco S&P International Developed Momentum ETF (NYSEARCA: IDMO) by increasing its holdings by 28.3% during the third quarter of 2023. The firm now owns a total of 205,953 shares, following the acquisition of an additional 45,477 shares during this period. As of its latest filing with the U.S. Securities and Exchange Commission, StoneCrest’s investments in IDMO are valued at approximately $11.12 million, making this ETF the firm’s third largest position in its portfolio.
The Invesco S&P International Developed Momentum ETF is a prominent choice among institutional investors. Other firms have also recently adjusted their stakes in IDMO. Titleist Asset Management LLC increased its position by 1.1% in the second quarter, now holding 125,711 shares valued at around $6.44 million. Additionally, Farther Finance Advisors LLC entered a new position in the ETF worth approximately $127,000.
Janney Montgomery Scott LLC made a significant move, boosting its stake in IDMO by 77.5% during the same quarter. This firm now possesses 42,970 shares, valued at about $2.20 million, after purchasing an additional 18,762 shares. Another notable entry comes from Whitaker Myers Wealth Managers LTD., which acquired a new position valued at approximately $20.44 million in the third quarter. Embree Financial Group also increased its stake by a striking 131.2%, now holding 38,783 shares valued at approximately $1.99 million.
Market Performance of Invesco S&P International Developed Momentum ETF
As for the current market status, shares of the Invesco S&P International Developed Momentum ETF opened at $56.78 on Friday. The ETF boasts a market capitalization of $2.51 billion, with a price-to-earnings ratio of 18.41 and a beta of 0.80. Over the past year, the ETF has experienced a low of $38.35 and a high of $57.21. Its 50-day simple moving average stands at $54.97, while the 200-day simple moving average is at $53.34.
About Invesco S&P International Developed Momentum ETF
The Invesco S&P International Developed Momentum ETF, launched on February 24, 2012, is designed to track an index of large- and mid-cap stocks from developed markets, excluding the United States and South Korea. The ETF selects stocks based on price momentum, which are then weighted by momentum and scaled according to market capitalization. Managed by Invesco, IDMO remains a key player in the realm of exchange-traded funds focused on international equities.
Investors interested in tracking further developments regarding IDMO can visit HoldingsChannel.com for the latest 13F filings and insider trades related to the Invesco S&P International Developed Momentum ETF.
