Fidelity High Yield Factor ETF (NYSEARCA:FDHY) Sees Large Decline in Short Interest

Fidelity High Yield Factor ETF (NYSEARCA:FDHY) was the recipient of a large decline in short interest in the month of May. As of May 29th, there was short interest totaling 10,795 shares, a decline of 74.8% from the May 14th total of 42,769 shares. Approximately 0.1% of the company’s shares are sold short. Based on an average daily trading volume, of 82,219 shares, the days-to-cover ratio is presently 0.1 days.

Hedge Funds Weigh In On Fidelity High Yield Factor ETF

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. LPL Financial LLC boosted its position in Fidelity High Yield Factor ETF by 17.5% in the 4th quarter. LPL Financial LLC now owns 503,214 shares of the company’s stock valued at $24,824,000 after buying an additional 74,936 shares during the period. Financial Management Professionals Inc. boosted its position in Fidelity High Yield Factor ETF by 10.7% in the 4th quarter. Financial Management Professionals Inc. now owns 451,872 shares of the company’s stock valued at $22,427,000 after buying an additional 43,498 shares during the period. Advisory Services Network LLC boosted its position in Fidelity High Yield Factor ETF by 21.9% in the 4th quarter. Advisory Services Network LLC now owns 188,681 shares of the company’s stock valued at $9,308,000 after buying an additional 33,937 shares during the period. Flavin Financial Services Inc. boosted its position in Fidelity High Yield Factor ETF by 9.0% in the 4th quarter. Flavin Financial Services Inc. now owns 110,418 shares of the company’s stock valued at $5,447,000 after buying an additional 9,109 shares during the period. Finally, Moody National Bank Trust Division lifted its position in shares of Fidelity High Yield Factor ETF by 2.7% during the 4th quarter. Moody National Bank Trust Division now owns 108,413 shares of the company’s stock worth $5,348,000 after purchasing an additional 2,857 shares during the last quarter.

Fidelity High Yield Factor ETF Stock Up 0.2%

Shares of FDHY stock traded up $0.09 during trading on Friday, hitting $49.18. 63,484 shares of the stock traded hands, compared to its average volume of 79,993. Fidelity High Yield Factor ETF has a 52-week low of $48.00 and a 52-week high of $49.71. The firm’s fifty day moving average price is $49.15 and its 200-day moving average price is $49.23.

Fidelity High Yield Factor ETF Company Profile

The Fidelity High Yield Factor ETF (FDHY) is an exchange-traded fund that mostly invests in high yield fixed income. The fund is an actively managed fund using a quantitative screen to select high-yield bonds issued by US and foreign corporations. The fund seeks a high level of income, and may also seek capital appreciation. FDHY was launched on Jun 12, 2018 and is managed by Fidelity.