Envestnet Asset Management Inc. Has $73.42 Million Stock Position in Fidelity Momentum Factor ETF (NYSEARCA:FDMO)

Envestnet Asset Management Inc. reduced its holdings in Fidelity Momentum Factor ETF (NYSEARCA:FDMO) by 1.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,054,710 shares of the company’s stock after selling 10,584 shares during the quarter. Envestnet Asset Management Inc. owned about 32.45% of Fidelity Momentum Factor ETF worth $73,419,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in FDMO. Raymond James Financial Inc. bought a new stake in shares of Fidelity Momentum Factor ETF in the 4th quarter valued at $7,223,000. Kestra Private Wealth Services LLC increased its stake in Fidelity Momentum Factor ETF by 129.8% in the fourth quarter. Kestra Private Wealth Services LLC now owns 51,714 shares of the company’s stock valued at $3,600,000 after purchasing an additional 29,210 shares in the last quarter. Commonwealth Equity Services LLC raised its holdings in shares of Fidelity Momentum Factor ETF by 87.4% during the fourth quarter. Commonwealth Equity Services LLC now owns 41,332 shares of the company’s stock valued at $2,877,000 after purchasing an additional 19,278 shares during the period. SteelPeak Wealth LLC bought a new position in shares of Fidelity Momentum Factor ETF during the 4th quarter worth about $2,455,000. Finally, Prudential PLC boosted its position in shares of Fidelity Momentum Factor ETF by 151.7% during the 4th quarter. Prudential PLC now owns 24,625 shares of the company’s stock worth $1,714,000 after purchasing an additional 14,840 shares in the last quarter.

Fidelity Momentum Factor ETF Price Performance

Shares of Fidelity Momentum Factor ETF stock opened at $58.00 on Wednesday. The business has a 50-day simple moving average of $68.14 and a 200 day simple moving average of $69.25. Fidelity Momentum Factor ETF has a one year low of $55.41 and a one year high of $74.53. The firm has a market capitalization of $403.10 million, a price-to-earnings ratio of 23.10 and a beta of 1.02.

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.