Fidelity Momentum Factor ETF (NYSEARCA:FDMO) Sees Significant Drop in Short Interest

Fidelity Momentum Factor ETF (NYSEARCA:FDMO) was the recipient of a large decrease in short interest during the month of May. As of May 29th, there was short interest totaling 16,006 shares, a decrease of 54.0% from the May 14th total of 34,779 shares. Approximately 0.2% of the shares of the company are sold short. Based on an average trading volume of 41,321 shares, the short-interest ratio is presently 0.4 days.

Fidelity Momentum Factor ETF Stock Up 2.4%

FDMO traded up $2.24 on Monday, hitting $97.55. 34,917 shares of the company traded hands, compared to its average volume of 66,205. The company has a 50 day moving average of $91.23 and a 200-day moving average of $86.63. The stock has a market capitalization of $907.22 million, a PE ratio of 28.38 and a beta of 1.05. Fidelity Momentum Factor ETF has a 12-month low of $72.49 and a 12-month high of $97.74.

Hedge Funds Weigh In On Fidelity Momentum Factor ETF

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Russell Investments Group Ltd. acquired a new position in Fidelity Momentum Factor ETF during the 4th quarter worth approximately $26,000. Larson Financial Group LLC acquired a new position in Fidelity Momentum Factor ETF during the 3rd quarter worth approximately $50,000. CWM LLC increased its position in Fidelity Momentum Factor ETF by 4,392.9% during the 4th quarter. CWM LLC now owns 629 shares of the company’s stock worth $53,000 after purchasing an additional 615 shares during the period. Western Wealth Management LLC acquired a new position in Fidelity Momentum Factor ETF during the 1st quarter worth approximately $58,000. Finally, High Point Wealth Management LLC acquired a new position in Fidelity Momentum Factor ETF during the 4th quarter worth approximately $85,000.

About Fidelity Momentum Factor ETF

The Fidelity Momentum Factor ETF (FDMO) is an exchange-traded fund that is based on the Fidelity U.S. Momentum Factor index. The fund tracks an index large-cap US stocks selected for positive momentum signals. FDMO was launched on Sep 12, 2016 and is managed by Fidelity.