Fidelity Momentum Factor ETF (NYSEARCA:FDMO) Short Interest Down 50.0% in May

Fidelity Momentum Factor ETF (NYSEARCA:FDMO) saw a large decrease in short interest in the month of May. As of May 15th, there was short interest totaling 34,779 shares, a decrease of 50.0% from the April 30th total of 69,492 shares. Based on an average daily volume of 51,754 shares, the days-to-cover ratio is currently 0.7 days. Approximately 0.4% of the company’s shares are sold short.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in FDMO. Kestra Advisory Services LLC raised its holdings in shares of Fidelity Momentum Factor ETF by 258.0% during the first 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 during the last quarter. Marks Group Wealth Management Inc increased its holdings in Fidelity Momentum Factor ETF by 1,548.7% in the first quarter. Marks Group Wealth Management Inc now owns 85,120 shares of the company’s stock valued at $6,818,000 after buying an additional 79,957 shares in the last quarter. Envestnet Asset Management Inc. grew its position in shares of Fidelity Momentum Factor ETF by 5.8% in the third quarter. Envestnet Asset Management Inc. now owns 1,258,647 shares of the company’s stock valued at $104,682,000 after purchasing an additional 68,770 shares during the period. LPL Financial LLC grew its position in shares of Fidelity Momentum Factor ETF by 87.3% in the fourth quarter. LPL Financial LLC now owns 106,798 shares of the company’s stock valued at $8,967,000 after purchasing an additional 49,790 shares during the period. Finally, NewEdge Advisors LLC grew its position in shares of Fidelity Momentum Factor ETF by 373.9% in the second quarter. NewEdge Advisors LLC now owns 58,485 shares of the company’s stock valued at $4,437,000 after purchasing an additional 46,144 shares during the period.

Fidelity Momentum Factor ETF Trading Down 0.1%

Shares of NYSEARCA FDMO traded down $0.05 during trading hours on Wednesday, reaching $96.87. The stock had a trading volume of 55,642 shares, compared to its average volume of 66,999. The firm has a market cap of $900.89 million, a price-to-earnings ratio of 28.38 and a beta of 1.05. The business’s fifty day moving average price is $88.24 and its two-hundred day moving average price is $85.70. Fidelity Momentum Factor ETF has a 52-week low of $72.35 and a 52-week high of $97.21.

Fidelity Momentum Factor ETF Company Profile

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.