Fidelity Momentum Factor ETF (NYSEARCA:FDMO) Short Interest Down 50.0% in May

Fidelity Momentum Factor ETF (NYSEARCA:FDMO) saw a large decrease in short interest in the month of May. As of May 15th, there was short interest totaling 34,779 shares, a decrease of 50.0% from the April 30th total of 69,492 shares. Based on an average daily volume of 51,754 shares, the days-to-cover ratio is currently 0.7 days. Approximately 0.4% of the company’s shares are sold short.

Hedge Funds Weigh In On Fidelity Momentum Factor ETF

A number of institutional investors have recently modified their holdings of the stock. Envestnet Asset Management Inc. increased its position in shares of Fidelity Momentum Factor ETF by 5.8% during the third quarter. Envestnet Asset Management Inc. now owns 1,258,647 shares of the company’s stock worth $104,682,000 after acquiring an additional 68,770 shares during the period. Great Lakes Retirement Inc. increased its position in shares of 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 acquiring an additional 1,645 shares during the period. Kestra Advisory Services LLC increased its position 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 worth $16,788,000 after acquiring an additional 151,049 shares during the period. Cetera Investment Advisers increased its position 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 worth $16,474,000 after acquiring an additional 10,603 shares during the period. Finally, Raymond James Financial Inc. increased its position 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 worth $11,001,000 after acquiring an additional 2,109 shares during the period.

Fidelity Momentum Factor ETF Stock Down 0.0%

Fidelity Momentum Factor ETF stock traded down $0.02 during midday trading on Monday, reaching $95.53. The stock had a trading volume of 41,434 shares, compared to its average volume of 67,369. Fidelity Momentum Factor ETF has a 52-week low of $71.68 and a 52-week high of $96.19. The firm has a market cap of $888.43 million, a price-to-earnings ratio of 28.38 and a beta of 1.05. The company has a fifty day moving average of $87.96 and a 200 day moving average of $85.62.

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.