3. Invesco S&P MidCap Momentum ETF (NYSE:XMMO)
5-Year Share Price Performance as of March 26: 102.30%
Invesco S&P MidCap Momentum ETF (NYSE:XMMO) tracks the S&P Midcap 400 Momentum Index, comprising 80 securities from the S&P Midcap 400 Index with the highest “momentum scores.” These scores are determined by comparing the upward price movements of each security to others within the S&P Midcap 400 Index. Invesco S&P MidCap Momentum ETF (NYSE:XMMO) is one of the best momentum ETFs to invest in. As of March 25, 2024, the fund holds a portfolio comprising 80 stocks, along with an expense ratio of 0.34%. The ETF was launched on March 3, 2005.
Manhattan Associates, Inc. (NASDAQ:MANH) is one of the top holdings of Invesco S&P MidCap Momentum ETF (NYSE:XMMO). Manhattan Associates, Inc. (NASDAQ:MANH) develops, sells, and maintains software solutions for supply chain, inventory, and omni-channel operations. Their offerings include Warehouse Management, Transportation Management, Inventory Optimization, and Manhattan Active Omni solutions. On January 30, the company reported a Q4 non-GAAP EPS of $1.03 and a revenue of $238.3 million, exceeding Wall Street estimates by $0.23 and $14.44 million, respectively.
According to Insider Monkey’s fourth quarter database, 32 hedge funds were long Manhattan Associates, Inc. (NASDAQ:MANH), compared to 26 funds in the last quarter.
Brown Capital Management made the following comment about Manhattan Associates, Inc. (NASDAQ:MANH) in its Q3 2022 investor letter:
“Manhattan Associates, Inc. (NASDAQ:MANH) provides supply-chain-management software and services. For retailers, wholesalers, and manufacturers, the company’s products increase supply chain visibility to improve asset turnover, reduce costs and uncertainty on when goods will be delivered. The market for supply-chain software has risen steadily over recent years and Manhattan has been a beneficiary of this increased demand.
The company continues to generate strong revenue growth from its Cloud and Services offerings. During the second quarter, Cloud subscription revenue grew 48% year over year while Services revenue grew 19%. Existing and new customers are responding positively to the company’s new product launches. Additionally, increasing revenue from Cloud buyers against its historical investment in the cloud infrastructure is poised to expand the segment’s operating margins in the years to come. Manhattan should also benefit from other tailwinds, including supply-chain digitalization, an increased focus on fulfillment and Manhattan’s new omni-channel software offering. We met with Manhattan Associates’s management team in September. After discussing the company’s product development roadmap and its approach to solving customer challenges, we were convinced the company has many years of attractive growth remaining. Despite our enthusiasm, we did modestly reduce our position size in response to our internal risk controls on position sizing.”
