SPMO is trading 1.5% down today due to its heavy concentration in the information technology sector, which remains under pressure following a global tech rout and AI-valuation reset.
- Investors are rotating out of growth and semiconductors into industrials and value stocks, causing tech benchmarks to lag broader indices.
- Market caution is mounting ahead of Micron Technology’s upcoming earnings report, further weighing on the momentum-focused ETF despite mixed overall market performance.