Short Interest in Fidelity Momentum Factor ETF (NYSEARCA:FDMO) Decreases By 38.1%

Fidelity Momentum Factor ETF (NYSEARCA:FDMO) saw a significant decrease in short interest in the month of August. As of August 31st, there was short interest totaling 19,741 shares, a decrease of 38.1% from the August 15th total of 31,900 shares. Based on an average trading volume of 65,170 shares, the days-to-cover ratio is presently 0.3 days. Approximately 0.2% of the company’s stock are sold short.

Fidelity Momentum Factor ETF Stock Performance

Fidelity Momentum Factor ETF stock traded up $0.78 during midday trading on Wednesday, hitting $93.18. 36,466 shares of the company’s stock were exchanged, compared to its average volume of 67,248. Fidelity Momentum Factor ETF has a 12 month low of $76.63 and a 12 month high of $98.87. The firm has a 50-day moving average of $94.43 and a two-hundred day moving average of $91.19. The company has a market cap of $839.55 million, a PE ratio of 28.38 and a beta of 1.05.

Hedge Funds Weigh In On Fidelity Momentum Factor ETF

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Kestra Advisory Services LLC boosted its stake in Fidelity Momentum Factor ETF by 258.0% in the 1st quarter. Kestra Advisory Services LLC now owns 209,587 shares of the company’s stock worth $16,788,000 after purchasing an additional 151,049 shares in the last quarter. Marks Group Wealth Management Inc increased its stake in Fidelity Momentum Factor ETF by 1,548.7% during the 1st quarter. Marks Group Wealth Management Inc now owns 85,120 shares of the company’s stock valued at $6,818,000 after purchasing an additional 79,957 shares in the last quarter. Royal Bank of Canada increased its stake in Fidelity Momentum Factor ETF by 185.3% during the 1st quarter. Royal Bank of Canada now owns 43,528 shares of the company’s stock valued at $3,486,000 after purchasing an additional 28,269 shares in the last quarter. Commonwealth Equity Services LLC raised its holdings in shares of Fidelity Momentum Factor ETF by 23.1% in the fourth quarter. Commonwealth Equity Services LLC now owns 83,352 shares of the company’s stock worth $6,998,000 after buying an additional 15,638 shares during the last quarter. Finally, Ameritas Advisory Services LLC purchased a new position in shares of Fidelity Momentum Factor ETF in the second quarter worth $1,502,000.

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.