Invesco S&P 500 Momentum ETF (NYSEARCA:SPMO) Sees Significant Increase in Short Interest
by Renee Jackson · The Cerbat GemInvesco S&P 500 Momentum ETF (NYSEARCA:SPMO – Get Free Report) was the recipient of a significant increase in short interest in the month of January. As of January 15th, there was short interest totaling 932,116 shares, an increase of 59.4% from the December 31st total of 584,925 shares. Based on an average daily volume of 1,992,596 shares, the days-to-cover ratio is currently 0.5 days. Approximately 0.8% of the company’s shares are short sold. Approximately 0.8% of the company’s shares are short sold. Based on an average daily volume of 1,992,596 shares, the days-to-cover ratio is currently 0.5 days.
Institutional Inflows and Outflows
Institutional investors have recently modified their holdings of the company. Capstone Wealth Management Group LLC raised its stake in Invesco S&P 500 Momentum ETF by 129.4% in the 1st quarter. Capstone Wealth Management Group LLC now owns 116,148 shares of the company’s stock valued at $10,747,000 after acquiring an additional 65,515 shares during the period. Goldman Sachs Group Inc. acquired a new position in shares of Invesco S&P 500 Momentum ETF in the first quarter valued at approximately $18,900,000. Jane Street Group LLC grew its holdings in Invesco S&P 500 Momentum ETF by 346.5% during the 1st quarter. Jane Street Group LLC now owns 40,389 shares of the company’s stock worth $3,737,000 after acquiring an additional 31,344 shares during the last quarter. Janney Montgomery Scott LLC increased its position in Invesco S&P 500 Momentum ETF by 3.8% in the 2nd quarter. Janney Montgomery Scott LLC now owns 39,124 shares of the company’s stock valued at $4,400,000 after acquiring an additional 1,420 shares during the period. Finally, Truist Financial Corp lifted its holdings in shares of Invesco S&P 500 Momentum ETF by 15.4% during the second quarter. Truist Financial Corp now owns 74,686 shares of the company’s stock worth $8,400,000 after purchasing an additional 9,959 shares during the period.
Invesco S&P 500 Momentum ETF Price Performance
Shares of SPMO traded up $0.86 during midday trading on Monday, hitting $120.73. The stock had a trading volume of 692,249 shares, compared to its average volume of 1,778,390. The firm has a market cap of $13.72 billion, a price-to-earnings ratio of 29.51 and a beta of 0.98. The company has a 50 day simple moving average of $119.62 and a two-hundred day simple moving average of $118.85. Invesco S&P 500 Momentum ETF has a twelve month low of $78.25 and a twelve month high of $124.56.
About Invesco S&P 500 Momentum ETF
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.