Fidelity High Yield Factor ETF (NYSEARCA:FDHY) Sees Large Growth in Short Interest

Fidelity High Yield Factor ETF (NYSEARCA:FDHY) was the recipient of a significant growth in short interest in the month of June. As of June 15th, there was short interest totaling 22,720 shares, a growth of 110.5% from the May 31st total of 10,795 shares. Approximately 0.2% of the shares of the company are short sold. Based on an average daily volume of 69,265 shares, the days-to-cover ratio is currently 0.3 days.

Fidelity High Yield Factor ETF Stock Performance

Shares of NYSEARCA FDHY traded up $0.05 during midday trading on Tuesday, hitting $49.04. The company’s stock had a trading volume of 40,685 shares, compared to its average volume of 79,069. The stock has a fifty day moving average price of $49.18 and a 200 day moving average price of $49.23. Fidelity High Yield Factor ETF has a one year low of $48.00 and a one year high of $49.71.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of FDHY. Jane Street Group LLC lifted its position in shares of Fidelity High Yield Factor ETF by 187.7% during the first quarter. Jane Street Group LLC now owns 14,900 shares of the company’s stock worth $716,000 after acquiring an additional 9,721 shares in the last quarter. Raymond James Financial Inc. grew its position in shares of Fidelity High Yield Factor ETF by 13.2% in the second quarter. Raymond James Financial Inc. now owns 68,787 shares of the company’s stock valued at $3,360,000 after purchasing an additional 8,009 shares in the last quarter. Envestnet Asset Management Inc. lifted its holdings in Fidelity High Yield Factor ETF by 11.9% during the 3rd quarter. Envestnet Asset Management Inc. now owns 8,154 shares of the company’s stock worth $402,000 after purchasing an additional 869 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in Fidelity High Yield Factor ETF by 2.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 38,263 shares of the company’s stock worth $1,886,000 after purchasing an additional 752 shares during the period. Finally, Great Lakes Retirement Inc. boosted its stake in Fidelity High Yield Factor ETF by 7.9% in the 3rd quarter. Great Lakes Retirement Inc. now owns 27,639 shares of the company’s stock worth $1,363,000 after purchasing an additional 2,018 shares during the period.

About Fidelity High Yield Factor ETF

The Fidelity High Yield Factor ETF (FDHY) is an exchange-traded fund that mostly invests in high yield fixed income. The fund is an actively managed fund using a quantitative screen to select high-yield bonds issued by US and foreign corporations. The fund seeks a high level of income, and may also seek capital appreciation. FDHY was launched on Jun 12, 2018 and is managed by Fidelity.