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

Fidelity Momentum Factor ETF (NYSEARCA:FDMO) was the recipient of a significant increase in short interest during the month of April. As of April 30th, there was short interest totaling 69,492 shares, an increase of 106.6% from the April 15th total of 33,640 shares. Approximately 0.7% of the company’s shares are sold short. Based on an average daily trading volume, of 54,528 shares, the days-to-cover ratio is currently 1.3 days.

Fidelity Momentum Factor ETF Trading Down 1.9%

Shares of NYSEARCA FDMO traded down $1.79 during trading hours on Friday, reaching $93.42. The stock had a trading volume of 66,270 shares, compared to its average volume of 70,175. The firm has a market cap of $868.81 million, a price-to-earnings ratio of 28.38 and a beta of 1.05. The business’s fifty day moving average price is $85.57 and its two-hundred day moving average price is $84.94. Fidelity Momentum Factor ETF has a 52-week low of $70.04 and a 52-week high of $95.38.

Institutional Trading of Fidelity Momentum Factor ETF

Hedge funds have recently bought and sold shares of the stock. Russell Investments Group Ltd. purchased a new stake in Fidelity Momentum Factor ETF during the fourth quarter worth $26,000. Larson Financial Group LLC purchased a new stake in Fidelity Momentum Factor ETF during the third quarter worth $50,000. Cornerstone Planning Group LLC purchased a new stake in Fidelity Momentum Factor ETF during the third quarter worth $53,000. CWM LLC lifted its holdings in Fidelity Momentum Factor ETF by 4,392.9% during the fourth quarter. CWM LLC now owns 629 shares of the company’s stock worth $53,000 after buying an additional 615 shares during the period. Finally, High Point Wealth Management LLC purchased a new stake in Fidelity Momentum Factor ETF during the fourth quarter worth $85,000.

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.