Fidelity Quality Factor ETF (NYSEARCA:FQAL) Sees Large Drop in Short Interest

Fidelity Quality Factor ETF (NYSEARCA:FQAL) was the target of a large decline in short interest in August. As of August 31st, there was short interest totaling 6,115 shares, a decline of 88.8% from the August 15th total of 54,529 shares. Based on an average trading volume of 35,511 shares, the short-interest ratio is currently 0.2 days. Approximately 0.0% of the shares of the stock are short sold.

Fidelity Quality Factor ETF Price Performance

Shares of FQAL traded up $0.70 during mid-day trading on Friday, reaching $83.74. The company had a trading volume of 16,675 shares, compared to its average volume of 51,431. The company has a market capitalization of $1.44 billion, a P/E ratio of 25.46 and a beta of 0.94. Fidelity Quality Factor ETF has a twelve month low of $70.44 and a twelve month high of $85.56. The company’s 50-day moving average is $83.38 and its 200-day moving average is $79.69.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Northwestern Mutual Wealth Management Co. raised its position in Fidelity Quality Factor ETF by 6,154.6% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,624,514 shares of the company’s stock valued at $122,797,000 after purchasing an additional 1,598,541 shares during the last quarter. Kestra Advisory Services LLC increased its stake in shares of Fidelity Quality Factor ETF by 33.6% in the first quarter. Kestra Advisory Services LLC now owns 899,808 shares of the company’s stock valued at $65,326,000 after buying an additional 226,425 shares in the last quarter. Sovran Advisors LLC acquired a new stake in shares of Fidelity Quality Factor ETF in the first quarter valued at $1,137,000. Smith Chas P & Associates PA Cpas raised its holdings in shares of Fidelity Quality Factor ETF by 32.9% in the fourth quarter. Smith Chas P & Associates PA Cpas now owns 179,903 shares of the company’s stock valued at $13,599,000 after buying an additional 44,528 shares during the last quarter. Finally, Biondo Investment Advisors LLC lifted its position in Fidelity Quality Factor ETF by 3.2% during the 4th quarter. Biondo Investment Advisors LLC now owns 25,373 shares of the company’s stock worth $1,918,000 after buying an additional 775 shares in the last quarter.

About Fidelity Quality Factor ETF

The Fidelity Quality Factor ETF (FQAL) is an exchange-traded fund that is based on the Fidelity U.S. Quality Factor index. The fund tracks an index of fundamentally- selected large and mid- cap US companies that are weighted according to a tiered scheme. FQAL was launched on Sep 12, 2016 and is managed by Fidelity.