Invesco S&P International Developed Momentum ETF (NYSEARCA:IDMO) Sees Significant Increase in Short Interest

Invesco S&P International Developed Momentum ETF (NYSEARCA:IDMO) saw a large growth in short interest during the month of July. As of July 31st, there was short interest totaling 462,296 shares, a growth of 426.5% from the July 15th total of 87,798 shares. Based on an average daily volume of 351,344 shares, the days-to-cover ratio is currently 1.3 days. Approximately 0.7% of the shares of the company are sold short.

Invesco S&P International Developed Momentum ETF Price Performance

Shares of NYSEARCA:IDMO traded up $0.08 during trading on Thursday, reaching $63.20. The company had a trading volume of 226,397 shares, compared to its average volume of 465,013. The firm has a market capitalization of $4.26 billion, a price-to-earnings ratio of 18.41 and a beta of 0.80. The stock’s fifty day moving average price is $60.18 and its 200 day moving average price is $58.91. Invesco S&P International Developed Momentum ETF has a fifty-two week low of $51.91 and a fifty-two week high of $63.36.

Hedge Funds Weigh In On Invesco S&P International Developed Momentum ETF

Several institutional investors have recently bought and sold shares of IDMO. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of Invesco S&P International Developed Momentum ETF by 130.4% in the third quarter. Northwestern Mutual Wealth Management Co. now owns 1,574,765 shares of the company’s stock valued at $85,022,000 after acquiring an additional 891,210 shares in the last quarter. SHP Wealth Management acquired a new stake in Invesco S&P International Developed Momentum ETF in the fourth quarter valued at about $47,926,000. Great Valley Advisor Group Inc. lifted its position in Invesco S&P International Developed Momentum ETF by 135.6% in the fourth quarter. Great Valley Advisor Group Inc. now owns 1,312,503 shares of the company’s stock valued at $72,936,000 after purchasing an additional 755,465 shares during the period. LPL Financial LLC boosted its holdings in Invesco S&P International Developed Momentum ETF by 17.5% in the 4th quarter. LPL Financial LLC now owns 4,549,563 shares of the company’s stock valued at $252,819,000 after purchasing an additional 677,990 shares in the last quarter. Finally, Jane Street Group LLC boosted its holdings in Invesco S&P International Developed Momentum ETF by 3,902.6% in the 2nd quarter. Jane Street Group LLC now owns 549,800 shares of the company’s stock valued at $28,172,000 after purchasing an additional 536,064 shares in the last quarter.

About Invesco S&P International Developed Momentum ETF

The Invesco S&P International Developed Momentum ETF (IDMO) is an exchange-traded fund that mostly invests in total market equity. The fund tracks an index of large- and mid-cap stocks from developed markets excluding the US and Korea. Stocks are selected by price momentum and weighted by momentum, scaled by market cap. IDMO was launched on Feb 24, 2012 and is managed by Invesco.