Invesco S&P 500 Momentum ETF (NYSEARCA:SPMO) Short Interest Up 59.4% in January

Invesco S&P 500 Momentum ETF (NYSEARCA:SPMO) saw a large growth in short interest during the month of January. As of January 15th, there was short interest totaling 932,116 shares, a growth of 59.4% from the December 31st total of 584,925 shares. Approximately 0.8% of the company’s shares are short sold. Based on an average daily volume of 1,992,596 shares, the short-interest ratio is presently 0.5 days. Based on an average daily volume of 1,992,596 shares, the short-interest ratio is presently 0.5 days. Approximately 0.8% of the company’s shares are short sold.

Institutional Trading of Invesco S&P 500 Momentum ETF

Hedge funds and other institutional investors have recently bought and sold shares of the business. Evolution Wealth Management Inc. boosted its position 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 valued at $897,000 after acquiring an additional 6,107 shares in the last quarter. Benjamin Edwards Inc. bought a new position in shares of Invesco S&P 500 Momentum ETF in the 3rd quarter worth $1,654,000. J.W. Cole Advisors Inc. lifted its stake in shares of Invesco S&P 500 Momentum ETF by 83.1% during the 2nd quarter. J.W. Cole Advisors Inc. now owns 12,858 shares of the company’s stock worth $1,446,000 after purchasing an additional 5,834 shares during the last quarter. Altus Wealth Group LLC boosted its position in Invesco S&P 500 Momentum ETF by 4.7% during the third quarter. Altus Wealth Group LLC now owns 137,743 shares of the company’s stock valued at $16,675,000 after purchasing an additional 6,229 shares in the last quarter. Finally, Childress Capital Advisors LLC purchased a new position in Invesco S&P 500 Momentum ETF in the third quarter valued at about $5,590,000.

Invesco S&P 500 Momentum ETF Stock Performance

NYSEARCA SPMO traded up $0.55 during trading on Monday, hitting $120.42. The stock had a trading volume of 627,931 shares, compared to its average volume of 1,774,524. Invesco S&P 500 Momentum ETF has a one year low of $78.25 and a one year high of $124.56. The stock has a 50 day simple moving average of $119.62 and a 200 day simple moving average of $118.85. The stock has a market capitalization of $13.68 billion, a price-to-earnings ratio of 29.51 and a beta of 0.98.

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.