Invesco S&P 500 Momentum ETF is trading 1.6% up today as the technology sector shows signs of stabilization following a sharp selloff and a $1.3 trillion semiconductor wipeout late last week.
- Investors are selectively buying beaten-down growth and momentum names as Nasdaq futures signal a recovery from recent Fed hike fears.
- The ETF is seeing a pre-market rebound driven by its heavy 53.6% exposure to the information technology sector and its high beta relative to the S&P 500.
- The move follows a period of intense volatility where momentum stocks were pressured by rising interest rate concerns and a broad retreat in semiconductor equities.