Fidelity Low Volatility Factor ETF (NYSEARCA:FDLO) Sees Significant Drop in Short Interest

Fidelity Low Volatility Factor ETF (NYSEARCA:FDLO) was the recipient of a large drop in short interest during the month of March. As of March 13th, there was short interest totaling 18,296 shares, a drop of 50.6% from the February 26th total of 37,042 shares. Based on an average daily volume of 67,156 shares, the days-to-cover ratio is presently 0.3 days. Approximately 0.1% of the shares of the company are short sold.

Fidelity Low Volatility Factor ETF Trading Down 0.7%

Shares of NYSEARCA:FDLO traded down $0.43 during midday trading on Thursday, reaching $64.40. The company had a trading volume of 82,592 shares, compared to its average volume of 77,148. The stock has a market cap of $1.40 billion, a P/E ratio of 24.34 and a beta of 0.80. The company’s 50 day moving average price is $67.30 and its 200 day moving average price is $66.66. Fidelity Low Volatility Factor ETF has a 52-week low of $53.59 and a 52-week high of $68.71.

Institutional Investors Weigh In On Fidelity Low Volatility Factor ETF

Large investors have recently modified their holdings of the stock. Cullen Frost Bankers Inc. lifted its stake in Fidelity Low Volatility Factor ETF by 1.6% in the fourth quarter. Cullen Frost Bankers Inc. now owns 9,586 shares of the company’s stock valued at $640,000 after purchasing an additional 147 shares during the last quarter. Equitable Holdings Inc. raised its stake in shares of Fidelity Low Volatility Factor ETF by 3.7% in the fourth quarter. Equitable Holdings Inc. now owns 4,239 shares of the company’s stock valued at $283,000 after buying an additional 151 shares during the period. MAI Capital Management raised its stake in shares of Fidelity Low Volatility Factor ETF by 58.7% in the third quarter. MAI Capital Management now owns 419 shares of the company’s stock valued at $28,000 after buying an additional 155 shares during the period. Smart Money Group LLC lifted its position in shares of Fidelity Low Volatility Factor ETF by 1.1% during the 4th quarter. Smart Money Group LLC now owns 15,713 shares of the company’s stock valued at $1,049,000 after buying an additional 175 shares during the last quarter. Finally, Mercer Global Advisors Inc. ADV grew its stake in shares of Fidelity Low Volatility Factor ETF by 2.5% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 7,310 shares of the company’s stock worth $488,000 after acquiring an additional 180 shares during the period.

About Fidelity Low Volatility Factor ETF

The Fidelity Low Volatility Factor ETF (FDLO) is an exchange-traded fund that is based on the Fidelity U.S. Low Volatility Factor index. The fund tracks an index of large- and mid-cap US stocks selected for low volatility of returns and earnings. FDLO was launched on Sep 12, 2016 and is managed by Fidelity.