Fidelity High Yield Factor ETF (NYSEARCA:FDHY) Stock Short Interest Falls 65.3%

Fidelity High Yield Factor ETF (NYSEARCA:FDHY) was the recipient of a significant drop in short interest in the month of September. As of September 15th, there was short interest totaling 6,516 shares, a drop of 65.3% from the August 31st total of 18,770 shares. Based on an average daily volume of 93,453 shares, the days-to-cover ratio is currently 0.1 days. Approximately 0.1% of the shares of the company are short sold.

Fidelity High Yield Factor ETF Price Performance

Shares of NYSEARCA:FDHY traded down $0.43 during trading on Tuesday, hitting $47.59. 114,645 shares of the stock were exchanged, compared to its average volume of 82,674. Fidelity High Yield Factor ETF has a 12-month low of $47.51 and a 12-month high of $49.70. The company has a fifty day moving average price of $48.85 and a two-hundred day moving average price of $48.98.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Investors Research Corp bought a new stake in shares of Fidelity High Yield Factor ETF during the 2nd quarter valued at about $10,597,000. Strengthening Families & Communities LLC acquired a new position in shares of Fidelity High Yield Factor ETF in the 2nd quarter valued at $7,812,000. Moody National Bank Trust Division boosted its position in Fidelity High Yield Factor ETF by 1.8% during the 2nd quarter. Moody National Bank Trust Division now owns 118,644 shares of the company’s stock worth $5,817,000 after acquiring an additional 2,112 shares during the period. Geneva Partners LLC acquired a new position in Fidelity High Yield Factor ETF in the 1st quarter worth about $3,402,000. Finally, Evergreen Private Wealth LLC boosted its holdings in Fidelity High Yield Factor ETF by 2.5% in the first quarter. Evergreen Private Wealth LLC now owns 54,451 shares of the company’s stock worth $2,643,000 after purchasing an additional 1,348 shares in the last quarter.

About Fidelity High Yield Factor ETF

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.