Short Interest in Fidelity Preferred Securities & Income ETF (BATS:FPFD) Expands By 417.8%

Fidelity Preferred Securities & Income ETF (BATS:FPFD) was the target of a large increase in short interest in the month of July. As of July 15th, there was short interest totaling 8,477 shares, an increase of 417.8% from the June 30th total of 1,637 shares. Based on an average daily volume of 18,116 shares, the days-to-cover ratio is presently 0.5 days. Currently, 0.3% of the company’s stock are short sold.

Fidelity Preferred Securities & Income ETF Stock Performance

FPFD opened at $21.31 on Friday. The company’s fifty day moving average price is $21.49 and its two-hundred day moving average price is $21.73. Fidelity Preferred Securities & Income ETF has a 1-year low of $21.23 and a 1-year high of $22.34.

Hedge Funds Weigh In On Fidelity Preferred Securities & Income ETF

Hedge funds have recently added to or reduced their stakes in the stock. Arkadios Wealth Advisors lifted its holdings in shares of Fidelity Preferred Securities & Income ETF by 14.0% in the first quarter. Arkadios Wealth Advisors now owns 17,348 shares of the company’s stock valued at $372,000 after purchasing an additional 2,133 shares in the last quarter. Fifth Third Bancorp purchased a new stake in shares of Fidelity Preferred Securities & Income ETF in the first quarter valued at about $238,000. Apollon Financial LLC purchased a new stake in shares of Fidelity Preferred Securities & Income ETF in the first quarter valued at about $455,000. Janney Montgomery Scott LLC lifted its position in shares of Fidelity Preferred Securities & Income ETF by 95.8% during the first quarter. Janney Montgomery Scott LLC now owns 86,273 shares of the company’s stock valued at $1,852,000 after purchasing an additional 42,204 shares in the last quarter. Finally, Osaic Holdings Inc. lifted its position in shares of Fidelity Preferred Securities & Income ETF by 11.4% during the fourth quarter. Osaic Holdings Inc. now owns 6,911 shares of the company’s stock valued at $151,000 after purchasing an additional 705 shares in the last quarter.

Fidelity Preferred Securities & Income ETF Company Profile

The Fidelity Preferred Securities & Income ETF (FPFD) is an exchange-traded fund that mostly invests in broad credit fixed income. The fund actively invests in preferred and other income producing securities rated at least BB, issued by domestic and foreign issuers, with no specific target maturity. FPFD was launched on Jun 15, 2021 and is managed by Fidelity.