Fidelity High Dividend ETF (NYSEARCA:FDVV) Sees Significant Decline in Short Interest

Fidelity High Dividend ETF (NYSEARCA:FDVV) was the target of a large drop in short interest in the month of July. As of July 31st, there was short interest totaling 213,305 shares, a drop of 47.0% from the July 15th total of 402,777 shares. Approximately 0.1% of the shares of the company are sold short. Based on an average daily volume of 776,020 shares, the days-to-cover ratio is currently 0.3 days.

Institutional Investors Weigh In On Fidelity High Dividend ETF

Several hedge funds have recently modified their holdings of the company. LPL Financial LLC grew its position in shares of Fidelity High Dividend ETF by 36.8% during the 4th quarter. LPL Financial LLC now owns 6,160,630 shares of the company’s stock valued at $349,246,000 after acquiring an additional 1,655,768 shares during the period. Raymond James Financial Inc. boosted its position in Fidelity High Dividend ETF by 62.2% during the third quarter. Raymond James Financial Inc. now owns 1,657,341 shares of the company’s stock worth $92,330,000 after purchasing an additional 635,591 shares in the last quarter. Bank of America Corp DE boosted its position in Fidelity High Dividend ETF by 34.6% during the third quarter. Bank of America Corp DE now owns 2,226,992 shares of the company’s stock worth $124,066,000 after purchasing an additional 572,218 shares in the last quarter. Baer Investment Advisory LLC acquired a new stake in Fidelity High Dividend ETF in the first quarter valued at approximately $30,326,000. Finally, Royal Bank of Canada grew its holdings in Fidelity High Dividend ETF by 246.4% in the first quarter. Royal Bank of Canada now owns 595,227 shares of the company’s stock valued at $32,881,000 after purchasing an additional 423,383 shares during the period.

Fidelity High Dividend ETF Stock Performance

NYSEARCA FDVV traded down $0.13 during mid-day trading on Friday, reaching $64.20. 543,915 shares of the stock were exchanged, compared to its average volume of 908,523. The business’s 50 day moving average is $61.96 and its 200-day moving average is $59.62. Fidelity High Dividend ETF has a 1 year low of $53.77 and a 1 year high of $64.54. The company has a market capitalization of $10.42 billion, a P/E ratio of 17.18 and a beta of 0.86.

Fidelity High Dividend ETF Company Profile

The Fidelity High Dividend ETF (FDVV) is an exchange-traded fund that is based on the Fidelity High Dividend index. The fund tracks an index of large- and mid-cap companies that exhibit positive dividend characteristics, with overweights to sectors that exhibit higher dividend yield. FDVV was launched on Sep 12, 2016 and is managed by Fidelity.