Short Interest in Fidelity Quality Factor ETF (NYSEARCA:FQAL) Expands By 707.4%

Fidelity Quality Factor ETF (NYSEARCA:FQAL) was the recipient of a large increase in short interest in July. As of July 15th, there was short interest totaling 22,342 shares, an increase of 707.4% from the June 30th total of 2,767 shares. Approximately 0.1% of the shares of the stock are sold short. Based on an average daily volume of 30,829 shares, the days-to-cover ratio is presently 0.7 days.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of FQAL. Northwestern Mutual Wealth Management Co. raised its stake in Fidelity Quality Factor ETF by 6,154.6% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 1,624,514 shares of the company’s stock worth $122,797,000 after acquiring an additional 1,598,541 shares in the last quarter. Kestra Advisory Services LLC grew its holdings in shares of Fidelity Quality Factor ETF by 33.6% during the 1st quarter. Kestra Advisory Services LLC now owns 899,808 shares of the company’s stock valued at $65,326,000 after purchasing an additional 226,425 shares during the last quarter. High Probability Advisors LLC grew its holdings in shares of Fidelity Quality Factor ETF by 2.0% during the 4th quarter. High Probability Advisors LLC now owns 309,369 shares of the company’s stock valued at $23,385,000 after purchasing an additional 6,021 shares during the last quarter. JPMorgan Chase & Co. increased its position in Fidelity Quality Factor ETF by 0.7% during the 4th quarter. JPMorgan Chase & Co. now owns 247,976 shares of the company’s stock worth $18,745,000 after purchasing an additional 1,688 shares in the last quarter. Finally, Smith Chas P & Associates PA Cpas increased its position in Fidelity Quality Factor ETF by 32.9% during the 4th quarter. Smith Chas P & Associates PA Cpas now owns 179,903 shares of the company’s stock worth $13,599,000 after purchasing an additional 44,528 shares in the last quarter.

Fidelity Quality Factor ETF Stock Up 0.4%

Shares of FQAL traded up $0.34 during midday trading on Friday, hitting $81.54. The company’s stock had a trading volume of 20,627 shares, compared to its average volume of 54,745. Fidelity Quality Factor ETF has a one year low of $69.85 and a one year high of $82.88. The stock has a market capitalization of $1.40 billion, a price-to-earnings ratio of 25.46 and a beta of 0.94. The company’s fifty day simple moving average is $80.99 and its two-hundred day simple moving average is $77.87.

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.