AdvisorNet Financial Inc Increases Stake in SPDR S&P 1500 Momentum Tilt ETF

AdvisorNet Financial Inc has significantly broadened its investment in the SPDR S&P 1500 Momentum Tilt ETF (NYSEARCA:MMTM) by 61.1% during the fourth quarter, as reported in their latest filing with the Securities and Exchange Commission (SEC). Following their recent buy of an additional 184 shares, the firm now holds a total of 485 shares in the ETF, which amounts to approximately 0.11% of the fund's total assets, bringing their investment to a value of $126,000 at the end of the quarter.

In addition to AdvisorNet, several other hedge funds have made changes to their investments in MMTM. For instance, Castleview Partners LLC raised its stake in the ETF by 184.1% in the third quarter, acquiring an additional 162 shares to reach a total of 250 shares valued at $63,000. Gateway Wealth Partners LLC also increased its holdings by 19.9% during the second quarter, now owning 2,375 shares worth $577,000 after acquiring an extra 395 shares. Professional Financial Advisors LLC slightly upped their position in the third quarter by 0.3%, totaling 17,087 shares valued at $4,303,000 after buying 43 additional shares. Baltimore Washington Financial Advisors Inc. also expanded their holdings, registering a growth of 6.4% in the third quarter by purchasing an additional 2,846 shares, leading to a total of 47,567 shares valued at $11,978,000.

Performance of SPDR S&P 1500 Momentum Tilt ETF

As of Friday, the SPDR S&P 1500 Momentum Tilt ETF is trading at $267.25, showing a slight increase of 1.2%. The ETF has demonstrated some volatility, with its 52-week low recorded at $203.55 and a 1-year high of $273.75. The fund’s market capitalization stands at approximately $114.92 million. The ETF has a price-to-earnings (P/E) ratio of 23.11 and a beta of 1.09, indicating its responsiveness to market movements.

About SPDR S&P 1500 Momentum Tilt ETF

The SPDR S&P 1500 Momentum Tilt ETF (MMTM) tracks the S&P 1500 Positive Momentum Tilt index, which utilizes a tiered methodology to weight constituents based on market capitalization and price momentum over the last 12 months, aiming to capture stocks exhibiting positive price trends.

The Broader Context

These recent changes in ownership highlight a growing interest among institutional investors in the SPDR S&P 1500 Momentum Tilt ETF. As the ETF adjusts to the market dynamics and responds to investor sentiments, its performance will be closely watched by stakeholders in the financial community.

AdvisorNet, MMTM, Investment