Fidelity High Dividend ETF (NYSEARCA:FDVV) Sees Large Decline in Short Interest

Fidelity High Dividend ETF (NYSEARCA:FDVV) was the recipient of a significant drop in short interest in February. As of February 13th, there was short interest totaling 154,411 shares, a drop of 63.6% from the January 29th total of 424,371 shares. Approximately 0.1% of the company’s stock are sold short. Based on an average trading volume of 1,121,829 shares, the days-to-cover ratio is currently 0.1 days. Based on an average trading volume of 1,121,829 shares, the days-to-cover ratio is currently 0.1 days. Approximately 0.1% of the company’s stock are sold short.

Fidelity High Dividend ETF Stock Up 0.6%

Shares of FDVV opened at $59.65 on Thursday. The firm has a market cap of $8.70 billion, a price-to-earnings ratio of 17.18 and a beta of 0.92. The company’s fifty day moving average is $57.91 and its 200-day moving average is $56.48. Fidelity High Dividend ETF has a 12 month low of $42.81 and a 12 month high of $60.12.

Hedge Funds Weigh In On Fidelity High Dividend ETF

Several hedge funds and other institutional investors have recently added to or reduced their stakes in FDVV. Assetmark Inc. grew its stake in Fidelity High Dividend ETF by 80.5% in the 2nd quarter. Assetmark Inc. now owns 473 shares of the company’s stock valued at $25,000 after buying an additional 211 shares during the last quarter. Federation des caisses Desjardins du Quebec bought a new position in shares of Fidelity High Dividend ETF in the fourth quarter worth about $25,000. Monetary Solutions Ltd acquired a new position in shares of Fidelity High Dividend ETF during the 4th quarter worth about $26,000. Darwin Wealth Management LLC bought a new stake in Fidelity High Dividend ETF during the 2nd quarter valued at approximately $27,000. Finally, TD Waterhouse Canada Inc. acquired a new stake in Fidelity High Dividend ETF in the 2nd quarter valued at approximately $32,000.

About Fidelity High Dividend ETF

The Fidelity High Dividend ETF (FDVV) is an exchange-traded fund that is based on the Fidelity High Dividend index. The fund tracks an index of large- and mid-cap companies that exhibit positive dividend characteristics, with overweights to sectors that exhibit higher dividend yield. FDVV was launched on Sep 12, 2016 and is managed by Fidelity.