iShares MSCI Intl Momentum Factor ETF (NYSEARCA:IMTM) Stock Short Interest Falls 70.4%

iShares MSCI Intl Momentum Factor ETF (NYSEARCA:IMTM) was the recipient of a significant drop in short interest during the month of October. As of October 15th, there was short interest totaling 235,408 shares, a drop of 70.4% from the September 30th total of 795,412 shares. Based on an average daily trading volume, of 431,663 shares, the days-to-cover ratio is presently 0.5 days. Currently, 0.3% of the company’s shares are sold short.

iShares MSCI Intl Momentum Factor ETF Trading Down 2.7%

Shares of IMTM stock traded down $1.43 during mid-day trading on Friday, reaching $50.65. The stock had a trading volume of 332,863 shares, compared to its average volume of 509,596. The stock’s 50-day moving average price is $52.78 and its two-hundred day moving average price is $51.88. The firm has a market capitalization of $4.11 billion, a PE ratio of 17.95 and a beta of 0.81. iShares MSCI Intl Momentum Factor ETF has a 52-week low of $45.97 and a 52-week high of $54.79.

Institutional Investors Weigh In On iShares MSCI Intl Momentum Factor ETF

Several hedge funds and other institutional investors have recently added to or reduced their stakes in IMTM. Acropolis Investment Management LLC bought a new position in iShares MSCI Intl Momentum Factor ETF in the 3rd quarter valued at approximately $33,975,000. Shore Point Advisors LLC purchased a new position in shares of iShares MSCI Intl Momentum Factor ETF in the 3rd quarter worth $26,025,000. Venture Visionary Partners LLC purchased a new stake in shares of iShares MSCI Intl Momentum Factor ETF during the 3rd quarter valued at about $16,824,000. Family Capital Trust Co purchased a new position in shares of iShares MSCI Intl Momentum Factor ETF during the 3rd quarter worth $14,162,000. Finally, Royal Bank of Canada boosted its position in shares of iShares MSCI Intl Momentum Factor ETF by 222.8% in the first quarter. Royal Bank of Canada now owns 331,656 shares of the company’s stock worth $15,927,000 after purchasing an additional 228,914 shares during the period.

About iShares MSCI Intl Momentum Factor ETF

The iShares MSCI Intl Momentum Factor ETF (IMTM) is an exchange-traded fund that is based on the MSCI World ex USA Momentum index. The fund tracks an index of large- and mid-cap stocks from developed countries, ex-US. The momentum-selected stocks are weighted by market cap and momentum. IMTM was launched on Jan 13, 2015 and is managed by BlackRock.