Invesco S&P 500 Value with Momentum ETF (NYSEARCA:SPVM) Sees Significant Decline in Short Interest

Invesco S&P 500 Value with Momentum ETF (NYSEARCA:SPVM) saw a significant drop in short interest during the month of March. As of March 13th, there was short interest totaling 9,575 shares, a drop of 34.4% from the February 26th total of 14,592 shares. Approximately 0.6% of the company’s shares are sold short. Based on an average daily trading volume, of 10,393 shares, the days-to-cover ratio is currently 0.9 days.

Invesco S&P 500 Value with Momentum ETF Stock Down 1.0%

NYSEARCA SPVM opened at $67.88 on Friday. Invesco S&P 500 Value with Momentum ETF has a 52 week low of $49.89 and a 52 week high of $72.51. The firm has a market capitalization of $105.89 million, a price-to-earnings ratio of 13.46 and a beta of 0.89. The company has a fifty day moving average of $70.40 and a two-hundred day moving average of $67.71.

Hedge Funds Weigh In On Invesco S&P 500 Value with Momentum ETF

Hedge funds have recently added to or reduced their stakes in the company. Capstone Wealth Management Group LLC purchased a new stake in shares of Invesco S&P 500 Value with Momentum ETF in the first quarter worth approximately $4,405,000. Raymond James Financial Inc. boosted its holdings in Invesco S&P 500 Value with Momentum ETF by 14.9% during the 2nd quarter. Raymond James Financial Inc. now owns 23,030 shares of the company’s stock valued at $1,377,000 after acquiring an additional 2,980 shares during the period. Ameriprise Financial Inc. purchased a new position in Invesco S&P 500 Value with Momentum ETF during the 2nd quarter valued at $206,000. Bank of America Corp DE grew its position in Invesco S&P 500 Value with Momentum ETF by 2.4% in the 2nd quarter. Bank of America Corp DE now owns 36,610 shares of the company’s stock valued at $2,189,000 after acquiring an additional 864 shares during the last quarter. Finally, Jones Financial Companies Lllp grew its position in Invesco S&P 500 Value with Momentum ETF by 61.5% in the 3rd quarter. Jones Financial Companies Lllp now owns 5,344 shares of the company’s stock valued at $350,000 after acquiring an additional 2,034 shares during the last quarter.

Invesco S&P 500 Value with Momentum ETF Company Profile

The Invesco S&P 500 Value with Momentum ETF (SPVM) is an exchange-traded fund that is based on the S&P 500 High Momentum Value index. The fund tracks an index of S&P 500 stocks selected by value and momentum and weighted by value. SPVM was launched on Jun 16, 2011 and is managed by Invesco.