Short interest in the Alpha Architect U.S. Quantitative Momentum ETF (NASDAQ:QMOM) experienced a significant decline of 15.4% in February 2024. As of February 27, the total short interest stood at 32,059 shares, down from 37,888 shares reported on February 12. This figure represents approximately 0.6% of the ETF’s outstanding shares.
The days-to-cover ratio, which indicates how many days it would take to cover all short positions based on average trading volume, is currently at 1.7 days. The ETF has an average trading volume of 18,634 shares.
Institutional Investors Adjust Holdings
Several institutional investors have recently made adjustments to their stakes in the Alpha Architect U.S. Quantitative Momentum ETF. Notably, Advantage Trust Co increased its holdings by 5.1% during the fourth quarter, bringing its total to 44,688 shares valued at approximately $2.9 million. This increase was achieved through the purchase of an additional 2,175 shares.
Similarly, Baker Boyer National Bank raised its position by 1.2%, now holding 17,193 shares worth around $1.1 million. Additionally, Sankala Group LLC established a new stake valued at about $650,000, while Opal Capital LLC also acquired a new position with an investment of approximately $300,000.
Market Performance and Trading Activity
On Monday, the Alpha Architect U.S. Quantitative Momentum ETF traded up by 1.2%, closing at $68.99. During the trading session, the ETF saw a volume of 2,038 shares, which is notably lower than its average volume of 21,163 shares. The ETF’s market capitalization currently stands at $362.89 million, with a price-to-earnings (PE) ratio of 27.79 and a beta of 1.06.
The ETF’s performance over the past year has been marked by a low of $49.78 and a high of $74.03. The fund has a 50-day simple moving average of $70.12 and a 200-day simple moving average of $66.72.
The Alpha Architect U.S. Quantitative Momentum ETF, launched on December 2, 2015, is an active fund that employs an equal-weighted strategy focused on U.S. stocks known for their strong and consistent momentum. This unique approach sets it apart from other ETFs, as it does not track an underlying index.
Investors are encouraged to stay informed about the ETF’s performance and market dynamics. For those interested in receiving regular updates, MarketBeat offers a free daily email newsletter summarizing the latest news and analysts’ ratings related to the Alpha Architect U.S. Quantitative Momentum ETF and other companies.
