Fidelity Enhanced Small Cap ETF (NYSEARCA:FESM) Sees Large Decrease in Short Interest

Fidelity Enhanced Small Cap ETF (NYSEARCA:FESM) was the target of a large drop in short interest during the month of September. As of September 15th, there was short interest totaling 235,704 shares, a drop of 42.5% from the August 31st total of 410,161 shares. Currently, 0.2% of the shares of the company are short sold. Based on an average daily volume of 754,952 shares, the short-interest ratio is presently 0.3 days.

Fidelity Enhanced Small Cap ETF Price Performance

NYSEARCA FESM traded up $0.64 on Friday, reaching $45.86. The stock had a trading volume of 202,587 shares, compared to its average volume of 776,523. The company has a market cap of $6.46 billion, a P/E ratio of 16.78 and a beta of 1.30. The firm has a fifty day moving average of $46.98 and a two-hundred day moving average of $44.91. Fidelity Enhanced Small Cap ETF has a 1-year low of $34.83 and a 1-year high of $48.93.

Hedge Funds Weigh In On Fidelity Enhanced Small Cap ETF

Several hedge funds and other institutional investors have recently added to or reduced their stakes in FESM. Envestnet Asset Management Inc. grew its holdings in shares of Fidelity Enhanced Small Cap ETF by 41.6% during the 2nd quarter. Envestnet Asset Management Inc. now owns 1,501,451 shares of the company’s stock worth $72,505,000 after purchasing an additional 441,088 shares in the last quarter. Capital Analysts LLC increased its holdings in Fidelity Enhanced Small Cap ETF by 1.2% in the 2nd quarter. Capital Analysts LLC now owns 851,673 shares of the company’s stock valued at $41,127,000 after buying an additional 9,816 shares during the period. NewEdge Advisors LLC raised its position in shares of Fidelity Enhanced Small Cap ETF by 1.1% in the 2nd quarter. NewEdge Advisors LLC now owns 107,057 shares of the company’s stock valued at $5,170,000 after buying an additional 1,119 shares in the last quarter. Baird Financial Group Inc. raised its position in shares of Fidelity Enhanced Small Cap ETF by 4.0% in the 2nd quarter. Baird Financial Group Inc. now owns 392,125 shares of the company’s stock valued at $18,936,000 after buying an additional 14,911 shares in the last quarter. Finally, Allworth Financial LP lifted its holdings in shares of Fidelity Enhanced Small Cap ETF by 165.8% during the 2nd quarter. Allworth Financial LP now owns 5,980 shares of the company’s stock worth $289,000 after acquiring an additional 3,730 shares during the period.

About Fidelity Enhanced Small Cap ETF

The Fidelity Enhanced Small Cap ETF (FESM) is an exchange-traded fund that mostly invests in small-cap stocks. The fund is an actively managed fund that invests in US, small-cap companies. Stock selection is based on computer-aided analysis, which chooses stocks belonging to the Russel 2000 Index. FESM was launched on Dec 20, 2007 and is issued by Fidelity.