Raymond James & Associates Increases Position in Invesco XSVM ETF

Raymond James & Associates has expanded its investment in the Invesco S&P SmallCap Value with Momentum ETF (NYSEARCA:XSVM), significantly increasing its share ownership during the third quarter. The investment firm's latest SEC filings reveal a 46.8% rise in their holdings of the ETF, resulting in an addition of 74,925 shares. After this acquisition, Raymond James & Associates' total ownership stood at 235,184 shares. The company's stake in the ETF is now estimated at a market value of around $11,324,000.

Other Hedge Funds' Movements

Raymond James & Associates was not the only entity making moves in XSVM. Sheets Smith Wealth Management, marking its presence in this arena, bought a new stake worth approximately $55,000. Private Trust Co. NA more than quintupled its holdings by 445.9%, ending up with 1,414 shares valued at $66,000. Smaller but notable new positions were also initiated by Cornerstone Planning Group LLC and UBS Group AG, at values of around $71,000 and $74,000 respectively. Furthermore, HighTower Advisors LLC made its entry with an investment worth approximately $214,000.

XSVM ETF's Market Performance

The trading price of XSVM saw a slight dip of 0.3% on a recent Friday, opening at $51.79. The ETF's price has been hovering above its 50-day moving average of $50.96 and its 200-day moving average of $48.97. Having a market capitalization of $680.00 million, it operates with a P/E ratio of 6.89 and a beta of 1.25. Over the past 12 months, XSVM has fluctuated between a low of $41.79 and a high of $55.52.

About Invesco S&P SmallCap Value with Momentum ETF

The ETF, previously known as PowerShares Fundamental Pure Small Value Portfolio, follows the RAFI Fundamental Small Value Index. This index comprises the common stocks of small value companies in the U.S., including REITs. The ETF is designed to invest a minimum of 90% of its assets in securities that form part of this index, which sources from a broader selection of 2,500 U.S. companies.

Invesco, RaymondJames, Investment