Fidelity Momentum Factor ETF (NYSEARCA:FDMO) Short Interest Up 47.2% in December

Fidelity Momentum Factor ETF (NYSEARCA:FDMO) was the target of a large increase in short interest during the month of December. As of December 31st, there was short interest totaling 23,376 shares, an increase of 47.2% from the December 15th total of 15,877 shares. Based on an average daily volume of 36,674 shares, the days-to-cover ratio is presently 0.6 days. Approximately 0.3% of the shares of the stock are short sold. Approximately 0.3% of the shares of the stock are short sold. Based on an average daily volume of 36,674 shares, the days-to-cover ratio is presently 0.6 days.

Fidelity Momentum Factor ETF Trading Up 0.5%

FDMO stock traded up $0.47 during trading on Friday, hitting $87.36. 21,614 shares of the stock traded hands, compared to its average volume of 33,456. The stock has a market cap of $637.73 million, a price-to-earnings ratio of 28.38 and a beta of 1.01. Fidelity Momentum Factor ETF has a one year low of $55.41 and a one year high of $87.60. The company has a 50 day simple moving average of $84.26 and a 200 day simple moving average of $81.69.

Institutional Investors Weigh In On Fidelity Momentum Factor ETF

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. IFP Advisors Inc boosted its stake in Fidelity Momentum Factor ETF by 27.7% in the third quarter. IFP Advisors Inc now owns 1,020 shares of the company’s stock worth $85,000 after purchasing an additional 221 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its holdings in shares of Fidelity Momentum Factor ETF by 1.1% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 21,985 shares of the company’s stock valued at $1,672,000 after buying an additional 244 shares during the last quarter. Equitable Holdings Inc. raised its holdings in shares of Fidelity Momentum Factor ETF by 7.2% in the third quarter. Equitable Holdings Inc. now owns 3,757 shares of the company’s stock valued at $312,000 after buying an additional 251 shares during the last quarter. Orgel Wealth Management LLC lifted its position in Fidelity Momentum Factor ETF by 3.1% during the 3rd quarter. Orgel Wealth Management LLC now owns 9,108 shares of the company’s stock worth $758,000 after buying an additional 277 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. grew its holdings in Fidelity Momentum Factor ETF by 5.8% during the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 5,481 shares of the company’s stock worth $456,000 after acquiring an additional 302 shares during the last quarter.

About Fidelity Momentum Factor ETF

The Fidelity Momentum Factor ETF (FDMO) is an exchange-traded fund that is based on the Fidelity U.S. Momentum Factor index. The fund tracks an index large-cap US stocks selected for positive momentum signals. FDMO was launched on Sep 12, 2016 and is managed by Fidelity.