Invesco S&P 500 Momentum ETF (NYSEARCA:SPMO) Sees Significant Increase in Short Interest

Invesco S&P 500 Momentum ETF (NYSEARCA:SPMO) was the target of a significant increase in short interest in December. As of December 15th, there was short interest totaling 785,124 shares, an increase of 37.3% from the November 30th total of 571,732 shares. Based on an average daily volume of 1,374,892 shares, the short-interest ratio is presently 0.6 days. Approximately 0.7% of the company’s stock are short sold. Approximately 0.7% of the company’s stock are short sold. Based on an average daily volume of 1,374,892 shares, the short-interest ratio is presently 0.6 days.

Invesco S&P 500 Momentum ETF Price Performance

SPMO traded down $0.68 during trading hours on Wednesday, reaching $119.67. 778,456 shares of the stock traded hands, compared to its average volume of 1,633,087. The firm’s fifty day simple moving average is $119.64 and its two-hundred day simple moving average is $117.43. The company has a market cap of $13.08 billion, a price-to-earnings ratio of 29.51 and a beta of 0.98. Invesco S&P 500 Momentum ETF has a fifty-two week low of $78.25 and a fifty-two week high of $124.56.

Institutional Investors Weigh In On Invesco S&P 500 Momentum ETF

Hedge funds have recently bought and sold shares of the business. Schroder Investment Management Group bought a new stake in shares of Invesco S&P 500 Momentum ETF in the second quarter worth $26,000. Cullen Frost Bankers Inc. acquired a new position in Invesco S&P 500 Momentum ETF during the 3rd quarter worth $27,000. GHP Investment Advisors Inc. increased its position in shares of Invesco S&P 500 Momentum ETF by 99.2% in the 2nd quarter. GHP Investment Advisors Inc. now owns 265 shares of the company’s stock worth $30,000 after purchasing an additional 132 shares during the last quarter. Mark Sheptoff Financial Planning LLC acquired a new stake in shares of Invesco S&P 500 Momentum ETF in the 2nd quarter valued at about $31,000. Finally, Blue Trust Inc. bought a new position in shares of Invesco S&P 500 Momentum ETF during the third quarter worth about $31,000.

Invesco S&P 500 Momentum ETF Company Profile

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.