Fidelity Momentum Factor ETF (NYSEARCA:FDMO) Sees Large Increase in Short Interest

Fidelity Momentum Factor ETF (NYSEARCA:FDMO) was the target of a large increase in short interest in the month of December. As of December 31st, there was short interest totaling 23,376 shares, an increase of 47.2% from the December 15th total of 15,877 shares. Currently, 0.3% of the company’s stock are sold short. Based on an average daily trading volume, of 36,674 shares, the days-to-cover ratio is currently 0.6 days. Based on an average daily trading volume, of 36,674 shares, the days-to-cover ratio is currently 0.6 days. Currently, 0.3% of the company’s stock are sold short.

Fidelity Momentum Factor ETF Trading Up 0.5%

FDMO stock traded up $0.47 during trading on Friday, reaching $87.36. The stock had a trading volume of 21,614 shares, compared to its average volume of 33,456. The firm has a fifty day moving average price of $84.26 and a 200 day moving average price of $81.65. The company has a market capitalization of $637.73 million, a P/E ratio of 28.38 and a beta of 1.01. Fidelity Momentum Factor ETF has a 1-year low of $55.41 and a 1-year high of $87.60.

Hedge Funds Weigh In On Fidelity Momentum Factor ETF

Several institutional investors and hedge funds have recently made changes to their positions in FDMO. Commonwealth Equity Services LLC grew its stake in Fidelity Momentum Factor ETF by 26.9% during the 3rd quarter. Commonwealth Equity Services LLC now owns 67,714 shares of the company’s stock worth $5,632,000 after buying an additional 14,358 shares during the last quarter. Ameritas Advisory Services LLC acquired a new position in shares of Fidelity Momentum Factor ETF during the second quarter valued at $43,000. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Fidelity Momentum Factor ETF by 1.1% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 21,985 shares of the company’s stock valued at $1,672,000 after acquiring an additional 244 shares during the period. Strategic Blueprint LLC bought a new position in shares of Fidelity Momentum Factor ETF during the second quarter worth about $1,364,000. Finally, Absolute Capital Management LLC increased its holdings in shares of Fidelity Momentum Factor ETF by 139.7% in the 2nd quarter. Absolute Capital Management LLC now owns 44,100 shares of the company’s stock worth $3,345,000 after acquiring an additional 25,700 shares during the period.

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.