Fidelity Disruptive Medicine ETF (NASDAQ:FMED) Sees Significant Drop in Short Interest

Fidelity Disruptive Medicine ETF (NASDAQ:FMED) was the recipient of a significant drop in short interest during the month of July. As of July 31st, there was short interest totaling 325 shares, a drop of 57.0% from the July 15th total of 756 shares. Based on an average trading volume of 4,595 shares, the days-to-cover ratio is presently 0.1 days. Currently, 0.0% of the company’s shares are short sold.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Virtu Financial LLC bought a new stake in shares of Fidelity Disruptive Medicine ETF during the fourth quarter valued at approximately $228,000. Jane Street Group LLC raised its holdings in Fidelity Disruptive Medicine ETF by 95.4% during the 4th quarter. Jane Street Group LLC now owns 91,414 shares of the company’s stock worth $2,473,000 after buying an additional 44,630 shares during the period. Finally, Vise Technologies Inc. acquired a new position in Fidelity Disruptive Medicine ETF in the 4th quarter worth approximately $234,000.

Fidelity Disruptive Medicine ETF Trading Up 0.3%

NASDAQ:FMED traded up $0.10 during mid-day trading on Friday, hitting $30.22. The company had a trading volume of 2,085 shares, compared to its average volume of 11,199. Fidelity Disruptive Medicine ETF has a 1 year low of $23.48 and a 1 year high of $30.54. The firm has a market capitalization of $48.35 million, a price-to-earnings ratio of 41.33 and a beta of 0.75. The business has a fifty day simple moving average of $28.16 and a 200-day simple moving average of $26.26.

Fidelity Disruptive Medicine ETF Company Profile

The Fidelity Disruptive Medicine ETF (FMED) is an exchange-traded fund that mostly invests in health care equity. The fund is an actively managed fund that invests in companies involved in disruptive innovation in Health Care. The fund invests in securities of domestic and foreign issuers FMED was launched on Apr 16, 2020 and is managed by Fidelity.