Fidelity Quality Factor ETF (NYSEARCA:FQAL) Sees Large Decline in Short Interest

Fidelity Quality Factor ETF (NYSEARCA:FQAL) was the recipient of a significant decrease in short interest during the month of May. As of May 29th, there was short interest totaling 2,567 shares, a decrease of 94.0% from the May 14th total of 43,083 shares. Based on an average daily trading volume, of 53,758 shares, the days-to-cover ratio is presently 0.0 days. Approximately 0.0% of the shares of the company are short sold.

Fidelity Quality Factor ETF Stock Down 0.0%

Shares of FQAL traded down $0.03 during mid-day trading on Tuesday, reaching $80.00. The company had a trading volume of 36,927 shares, compared to its average volume of 61,028. Fidelity Quality Factor ETF has a 52-week low of $66.80 and a 52-week high of $81.74. The stock has a market capitalization of $1.40 billion, a P/E ratio of 25.46 and a beta of 0.95. The stock has a 50 day moving average of $78.13 and a two-hundred day moving average of $76.60.

Institutional Trading of Fidelity Quality Factor ETF

A number of hedge funds have recently modified their holdings of the stock. Midwest Financial Network LLC purchased a new stake in shares of Fidelity Quality Factor ETF in the first quarter worth about $408,000. Western Wealth Management LLC purchased a new stake in shares of Fidelity Quality Factor ETF in the first quarter worth about $46,000. Royal Bank of Canada boosted its stake in shares of Fidelity Quality Factor ETF by 11.7% in the first quarter. Royal Bank of Canada now owns 2,782 shares of the company’s stock worth $202,000 after buying an additional 292 shares during the last quarter. Cetera Investment Advisers boosted its stake in shares of Fidelity Quality Factor ETF by 2.8% in the first quarter. Cetera Investment Advisers now owns 171,126 shares of the company’s stock worth $12,424,000 after buying an additional 4,644 shares during the last quarter. Finally, Assetmark Inc. boosted its stake in shares of Fidelity Quality Factor ETF by 120.7% in the first quarter. Assetmark Inc. now owns 587 shares of the company’s stock worth $43,000 after buying an additional 321 shares during the last quarter.

About Fidelity Quality Factor ETF

The Fidelity Quality Factor ETF (FQAL) is an exchange-traded fund that is based on the Fidelity U.S. Quality Factor index. The fund tracks an index of fundamentally- selected large and mid- cap US companies that are weighted according to a tiered scheme. FQAL was launched on Sep 12, 2016 and is managed by Fidelity.