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

Invesco S&P 500 Momentum ETF (NYSEARCA:SPMO) saw a significant growth in short interest in the month of April. As of April 15th, there was short interest totaling 790,771 shares, a growth of 45.2% from the March 31st total of 544,558 shares. Based on an average daily volume of 1,713,272 shares, the days-to-cover ratio is currently 0.5 days. Approximately 0.7% of the company’s shares are short sold.

Invesco S&P 500 Momentum ETF Stock Down 1.5%

Shares of Invesco S&P 500 Momentum ETF stock opened at $130.12 on Tuesday. The firm has a market cap of $15.53 billion, a PE ratio of 29.51 and a beta of 1.02. Invesco S&P 500 Momentum ETF has a 52 week low of $91.93 and a 52 week high of $132.29. The business’s fifty day simple moving average is $119.63 and its 200-day simple moving average is $119.61.

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

A number of institutional investors have recently made changes to their positions in SPMO. Evolution Wealth Management Inc. lifted its stake in Invesco S&P 500 Momentum ETF by 468.7% during the 3rd quarter. Evolution Wealth Management Inc. now owns 7,410 shares of the company’s stock worth $897,000 after acquiring an additional 6,107 shares in the last quarter. Dynamic Advisor Solutions LLC increased its stake in Invesco S&P 500 Momentum ETF by 116.7% during the fourth quarter. Dynamic Advisor Solutions LLC now owns 106,101 shares of the company’s stock worth $12,660,000 after purchasing an additional 57,149 shares during the period. IFP Advisors Inc increased its stake in Invesco S&P 500 Momentum ETF by 98.0% during the third quarter. IFP Advisors Inc now owns 10,833 shares of the company’s stock worth $1,311,000 after purchasing an additional 5,361 shares during the period. Benjamin Edwards Inc. acquired a new stake in shares of Invesco S&P 500 Momentum ETF during the third quarter worth about $1,654,000. Finally, CIBC Private Wealth Group LLC lifted its position in shares of Invesco S&P 500 Momentum ETF by 7,363.6% during the third quarter. CIBC Private Wealth Group LLC now owns 15,972 shares of the company’s stock worth $1,934,000 after purchasing an additional 15,758 shares in the last quarter.

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.