Fidelity Small-Mid Multifactor ETF (NYSEARCA:FSMD) Stock Short Interest Jumps 67.4%

Fidelity Small-Mid Multifactor ETF (NYSEARCA:FSMD) was the target of a significant growth in short interest in September. As of September 15th, there was short interest totaling 61,132 shares, a growth of 67.4% from the August 31st total of 36,518 shares. Approximately 0.1% of the company’s stock are short sold. Based on an average daily volume of 152,736 shares, the days-to-cover ratio is currently 0.4 days.

Fidelity Small-Mid Multifactor ETF Price Performance

Shares of FSMD stock traded down $0.04 during mid-day trading on Wednesday, hitting $49.38. 111,161 shares of the stock traded hands, compared to its average volume of 134,208. Fidelity Small-Mid Multifactor ETF has a 52-week low of $41.86 and a 52-week high of $53.48. The stock has a market cap of $2.48 billion, a P/E ratio of 16.74 and a beta of 0.93. The stock’s fifty day moving average is $51.18 and its two-hundred day moving average is $49.75.

Institutional Investors Weigh In On Fidelity Small-Mid Multifactor ETF

Hedge funds and other institutional investors have recently bought and sold shares of the company. Western Wealth Management LLC acquired a new stake in Fidelity Small-Mid Multifactor ETF in the first quarter valued at approximately $27,000. Global Assets Advisory LLC acquired a new position in shares of Fidelity Small-Mid Multifactor ETF during the first quarter worth $35,000. Portfolio Resources Advisor Group Inc. purchased a new stake in shares of Fidelity Small-Mid Multifactor ETF during the 4th quarter valued at $49,000. Allworth Financial LP lifted its holdings in shares of Fidelity Small-Mid Multifactor ETF by 28.0% during the 2nd quarter. Allworth Financial LP now owns 1,986 shares of the company’s stock valued at $105,000 after purchasing an additional 435 shares during the last quarter. Finally, Fifth Third Bancorp boosted its position in shares of Fidelity Small-Mid Multifactor ETF by 464.9% in the 1st quarter. Fifth Third Bancorp now owns 2,689 shares of the company’s stock worth $120,000 after purchasing an additional 2,213 shares in the last quarter.

About Fidelity Small-Mid Multifactor ETF

The Fidelity Small-Mid Factor ETF (FSMD) is an exchange-traded fund that is based on the Fidelity Small-Mid Multifactor index. The fund tracks a multi-factored index of US companies. FSMD was launched on Feb 26, 2019 and is managed by Fidelity.