Fidelity Momentum Factor ETF (NYSEARCA:FDMO) Sees Significant Drop in Short Interest

Fidelity Momentum Factor ETF (NYSEARCA:FDMO) was the recipient of a significant decrease in short interest during the month of May. As of May 29th, there was short interest totaling 16,006 shares, a decrease of 54.0% from the May 14th total of 34,779 shares. Currently, 0.2% of the shares of the stock are sold short. Based on an average daily trading volume, of 41,321 shares, the days-to-cover ratio is presently 0.4 days.

Fidelity Momentum Factor ETF Stock Performance

Fidelity Momentum Factor ETF stock traded up $0.92 during trading hours on Friday, hitting $95.31. 46,741 shares of the stock were exchanged, compared to its average volume of 66,484. The stock has a market capitalization of $886.38 million, a P/E ratio of 28.38 and a beta of 1.05. Fidelity Momentum Factor ETF has a 12 month low of $72.35 and a 12 month high of $97.21. The business’s 50-day moving average is $90.90 and its two-hundred day moving average is $86.50.

Institutional Trading of Fidelity Momentum Factor ETF

Several large investors have recently added to or reduced their stakes in the company. Great Lakes Retirement Inc. grew its stake in Fidelity Momentum Factor ETF by 0.7% during the fourth quarter. Great Lakes Retirement Inc. now owns 229,207 shares of the company’s stock worth $19,244,000 after buying an additional 1,645 shares during the last quarter. Kestra Advisory Services LLC grew its stake in shares of Fidelity Momentum Factor ETF by 258.0% during the first quarter. Kestra Advisory Services LLC now owns 209,587 shares of the company’s stock valued at $16,788,000 after purchasing an additional 151,049 shares during the last quarter. Cetera Investment Advisers grew its stake in shares of Fidelity Momentum Factor ETF by 5.4% during the first quarter. Cetera Investment Advisers now owns 205,666 shares of the company’s stock valued at $16,474,000 after purchasing an additional 10,603 shares during the last quarter. Raymond James Financial Inc. grew its stake in shares of Fidelity Momentum Factor ETF by 1.6% during the third quarter. Raymond James Financial Inc. now owns 132,268 shares of the company’s stock valued at $11,001,000 after purchasing an additional 2,109 shares during the last quarter. Finally, LPL Financial LLC grew its stake in shares of Fidelity Momentum Factor ETF by 87.3% during the fourth quarter. LPL Financial LLC now owns 106,798 shares of the company’s stock valued at $8,967,000 after purchasing an additional 49,790 shares during the last quarter.

Fidelity Momentum Factor ETF Company Profile

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.