Invesco S&P 500 Momentum ETF Sees Significant Weekly Growth
Remarkable $570.3 Million Inflow Boosts Units by 16.8%
Looking at recent trends in exchange-traded funds (ETFs) tracked by ETF Channel, the Invesco S&P 500—Momentum ETF (Symbol: SPMO) stands out with an approximate $570.3 million inflow this week. This influx represents a notable 16.8% rise in outstanding units, increasing from 35,490,000 to 41,460,000. Among SPMO’s major components, NVIDIA Corp (Symbol: NVDA) has decreased by about 2.2%, International Business Machines Corp (Symbol: IBM) has risen by around 0.8%, and KKR & CO Inc (Symbol: KKR) has climbed about 0.2%. For a full list of holdings, visit the SPMO Holdings page »
The chart below illustrates SPMO’s price performance over the past year compared to its 200-day moving average:
In reviewing the chart, SPMO’s 52-week low is recorded at $60.97 per share, with a 52-week high of $97.36. The most recent closing price was $95.31. Analyzing the recent share price against the 200-day moving average can provide insights into market trends—learn more about the 200-day moving average ».
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Exchange-traded funds (ETFs) operate similarly to stocks, but investors actually buy and sell “units.” These units can be traded like stock shares but are also created or destroyed based on investor demand. Each week, we track the week-over-week changes in shares outstanding to identify ETFs with significant inflows (new units created) or outflows (old units destroyed). The creation of new units typically requires the purchase of the ETF’s underlying assets, whereas a reduction in units entails selling these assets. Thus, large inflows or outflows can affect the individual components held within ETFs.
Click here to find out which 9 other ETFs had notable inflows »
Also see:
- Stocks Crossing Below Book Value
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- DHC Average Annual Return
The views and opinions expressed herein are those of the author and do not necessarily reflect the views of Nasdaq, Inc.
