🔴 SPMO is trading 3.31% down today as tech momentum unwinds

SPMO is trading at $140.07 (-3.31%) as a sharp reversal in chip and AI-related stocks weighs on the momentum-focused fund.

• The decline is largely driven by the ETF's heavy 53.5% weight in information technology, which is tracking a broader two-day slump in the semiconductor sector.
• Macroeconomic headwinds, including concerns over AI spending, potential U.S. tariffs, and caution ahead of the Federal Reserve meeting, are pressuring high-momentum tech names.
• The selloff reflects wider volatility in the Nasdaq as investors pull back from previously high-flying AI and semiconductor leaders.