Fidelity Momentum Factor ETF (NYSEARCA:FDMO) Sees Large Decrease in Short Interest

Fidelity Momentum Factor ETF (NYSEARCA:FDMO) was the target of a significant decline in short interest during the month of August. As of August 31st, there was short interest totaling 19,741 shares, a decline of 38.1% from the August 15th total of 31,900 shares. Approximately 0.2% of the company’s shares are sold short. Based on an average daily volume of 65,170 shares, the short-interest ratio is currently 0.3 days.

Fidelity Momentum Factor ETF Trading Down 0.0%

Shares of NYSEARCA:FDMO traded down $0.01 on Friday, reaching $94.05. 38,068 shares of the company traded hands, compared to its average volume of 67,047. The business’s 50-day simple moving average is $94.35 and its 200 day simple moving average is $91.31. Fidelity Momentum Factor ETF has a 52 week low of $76.63 and a 52 week high of $98.87. The stock has a market capitalization of $847.38 million, a P/E ratio of 28.38 and a beta of 1.05.

Hedge Funds Weigh In On Fidelity Momentum Factor ETF

A number of large investors have recently bought and sold shares of FDMO. Integrated Wealth Concepts LLC raised its holdings in Fidelity Momentum Factor ETF by 10.6% during the 2nd quarter. Integrated Wealth Concepts LLC now owns 9,026 shares of the company’s stock valued at $890,000 after buying an additional 865 shares during the last quarter. NewEdge Advisors LLC grew its holdings in Fidelity Momentum Factor ETF by 42.1% in the 2nd quarter. NewEdge Advisors LLC now owns 32,285 shares of the company’s stock worth $3,182,000 after acquiring an additional 9,558 shares during the last quarter. Citadel Advisors LLC purchased a new position in shares of Fidelity Momentum Factor ETF in the second quarter valued at about $1,167,000. Ameritas Advisory Services LLC bought a new position in shares of Fidelity Momentum Factor ETF during the second quarter valued at about $1,502,000. Finally, Worth Asset Management LLC raised its stake in shares of Fidelity Momentum Factor ETF by 28.9% during the second quarter. Worth Asset Management LLC now owns 8,303 shares of the company’s stock valued at $818,000 after acquiring an additional 1,862 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.