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

Invesco S&P International Developed Momentum ETF (NYSEARCA:IDMO) saw a significant drop in short interest in the month of May. As of May 29th, there was short interest totaling 244,217 shares, a drop of 72.3% from the May 14th total of 881,624 shares. Based on an average daily volume of 342,864 shares, the days-to-cover ratio is currently 0.7 days. Approximately 0.4% of the shares of the company are sold short.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in IDMO. Northwestern Mutual Wealth Management Co. increased its holdings in shares of Invesco S&P International Developed Momentum ETF by 130.4% during the third quarter. Northwestern Mutual Wealth Management Co. now owns 1,574,765 shares of the company’s stock worth $85,022,000 after purchasing an additional 891,210 shares during the period. SHP Wealth Management bought a new position in Invesco S&P International Developed Momentum ETF in the fourth quarter valued at approximately $47,926,000. Great Valley Advisor Group Inc. increased its stake 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 acquiring an additional 755,465 shares during the last quarter. LPL Financial LLC increased its stake in Invesco S&P International Developed Momentum ETF by 17.5% in the fourth quarter. LPL Financial LLC now owns 4,549,563 shares of the company’s stock valued at $252,819,000 after acquiring an additional 677,990 shares during the last quarter. Finally, Jane Street Group LLC increased its stake in Invesco S&P International Developed Momentum ETF by 3,902.6% in the second quarter. Jane Street Group LLC now owns 549,800 shares of the company’s stock valued at $28,172,000 after acquiring an additional 536,064 shares during the last quarter.

Invesco S&P International Developed Momentum ETF Stock Up 1.4%

Shares of IDMO traded up $0.80 during mid-day trading on Friday, hitting $59.81. 214,363 shares of the company’s stock were exchanged, compared to its average volume of 508,589. Invesco S&P International Developed Momentum ETF has a 52 week low of $48.79 and a 52 week high of $61.17. The stock’s 50-day simple moving average is $59.13 and its 200-day simple moving average is $57.49. The firm has a market cap of $3.61 billion, a price-to-earnings ratio of 18.41 and a beta of 0.80.

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.