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

Fidelity High Yield Factor ETF (NYSEARCA:FDHY) was the recipient of a large decrease in short interest in June. As of June 30th, there was short interest totaling 12,455 shares, a decrease of 45.2% from the June 15th total of 22,720 shares. Currently, 0.1% of the company’s shares are sold short. Based on an average daily volume of 79,134 shares, the days-to-cover ratio is currently 0.2 days.

Institutional Investors Weigh In On Fidelity High Yield Factor ETF

Several institutional investors and hedge funds have recently modified their holdings of the stock. LPL Financial LLC boosted its holdings 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 worth $24,824,000 after acquiring an additional 74,936 shares during the period. Geneva Partners LLC purchased a new stake in shares of Fidelity High Yield Factor ETF during the first quarter valued at approximately $3,402,000. Financial Management Professionals Inc. lifted its position in shares of Fidelity High Yield Factor ETF by 10.7% during the fourth quarter. Financial Management Professionals Inc. now owns 451,872 shares of the company’s stock worth $22,427,000 after purchasing an additional 43,498 shares in the last quarter. Wise Wealth Partners acquired a new position in shares of Fidelity High Yield Factor ETF during the fourth quarter worth $1,801,000. Finally, Advisory Services Network LLC lifted its position in shares of Fidelity High Yield Factor ETF by 21.9% during the fourth quarter. Advisory Services Network LLC now owns 188,681 shares of the company’s stock worth $9,308,000 after purchasing an additional 33,937 shares in the last quarter.

Fidelity High Yield Factor ETF Stock Performance

Shares of FDHY stock traded down $0.05 during mid-day trading on Thursday, reaching $49.14. The company’s stock had a trading volume of 29,181 shares, compared to its average volume of 81,783. The company’s 50 day simple moving average is $49.11 and its 200-day simple moving average is $49.20. Fidelity High Yield Factor ETF has a 12-month low of $48.00 and a 12-month high of $49.71.

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.