Invesco S&P 500 Momentum ETF (NYSEARCA:SPMO) Short Interest Up 57.9% in August

Invesco S&P 500 Momentum ETF (NYSEARCA:SPMO) was the target of a large growth in short interest in August. As of August 14th, there was short interest totaling 895,762 shares, a growth of 57.9% from the July 30th total of 567,143 shares. Based on an average daily trading volume, of 1,889,705 shares, the short-interest ratio is presently 0.5 days. Currently, 0.6% of the shares of the company are sold short.

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

Several hedge funds have recently made changes to their positions in SPMO. Ameritas Advisory Services LLC lifted its holdings in Invesco S&P 500 Momentum ETF by 928.3% during the 2nd quarter. Ameritas Advisory Services LLC now owns 150,022 shares of the company’s stock worth $24,235,000 after purchasing an additional 135,432 shares in the last quarter. Henrickson Nauta Wealth Advisors Inc. boosted its stake in Invesco S&P 500 Momentum ETF by 14.5% in the 2nd quarter. Henrickson Nauta Wealth Advisors Inc. now owns 6,659 shares of the company’s stock worth $1,076,000 after purchasing an additional 845 shares during the period. Wedmont Private Capital grew its holdings in Invesco S&P 500 Momentum ETF by 97.5% during the 2nd quarter. Wedmont Private Capital now owns 45,348 shares of the company’s stock valued at $6,972,000 after buying an additional 22,385 shares in the last quarter. Kintra Wealth LLC grew its holdings in Invesco S&P 500 Momentum ETF by 25.0% during the 2nd quarter. Kintra Wealth LLC now owns 9,942 shares of the company’s stock valued at $1,518,000 after buying an additional 1,986 shares in the last quarter. Finally, Hutchens & Kramer Investment Management Group LLC increased its position in shares of Invesco S&P 500 Momentum ETF by 2.4% during the second quarter. Hutchens & Kramer Investment Management Group LLC now owns 65,767 shares of the company’s stock valued at $10,624,000 after buying an additional 1,526 shares during the period.

Invesco S&P 500 Momentum ETF Price Performance

Shares of SPMO stock opened at $145.54 on Wednesday. The company’s fifty day simple moving average is $149.54 and its two-hundred day simple moving average is $137.77. Invesco S&P 500 Momentum ETF has a 1 year low of $107.24 and a 1 year high of $162.30. The stock has a market capitalization of $21.31 billion, a price-to-earnings ratio of 29.51 and a beta of 1.10.

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.