Fidelity Fundamental Small-Mid Cap ETF (BATS:FFSM) Sees Large Decline in Short Interest

Fidelity Fundamental Small-Mid Cap ETF (BATS:FFSM) was the target of a significant decline in short interest in October. As of October 15th, there was short interest totaling 60,422 shares, a decline of 70.4% from the September 30th total of 204,135 shares. Based on an average daily volume of 604,387 shares, the days-to-cover ratio is currently 0.1 days. Approximately 0.2% of the shares of the company are short sold.

Fidelity Fundamental Small-Mid Cap ETF Trading Up 0.9%

Fidelity Fundamental Small-Mid Cap ETF stock opened at $33.93 on Wednesday. The stock has a market cap of $865.22 million, a price-to-earnings ratio of 16.79 and a beta of 1.09. The company’s 50-day moving average price is $35.04 and its two-hundred day moving average price is $34.96. Fidelity Fundamental Small-Mid Cap ETF has a 52 week low of $28.59 and a 52 week high of $38.48.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in FFSM. KOM Wealth Management Group LLC increased its stake in shares of Fidelity Fundamental Small-Mid Cap ETF by 9.5% during the third quarter. KOM Wealth Management Group LLC now owns 458,292 shares of the company’s stock valued at $15,504,000 after acquiring an additional 39,857 shares during the period. Precedent Wealth Partners LLC lifted its position in Fidelity Fundamental Small-Mid Cap ETF by 74.5% in the third quarter. Precedent Wealth Partners LLC now owns 378,907 shares of the company’s stock worth $12,818,000 after purchasing an additional 161,742 shares during the period. Novem Group lifted its position in Fidelity Fundamental Small-Mid Cap ETF by 0.7% in the third quarter. Novem Group now owns 228,927 shares of the company’s stock worth $7,745,000 after purchasing an additional 1,653 shares during the period. Gaddis Premier Wealth Advisors LLC lifted its position in Fidelity Fundamental Small-Mid Cap ETF by 3.4% in the first quarter. Gaddis Premier Wealth Advisors LLC now owns 214,864 shares of the company’s stock worth $6,865,000 after purchasing an additional 7,005 shares during the period. Finally, Envestnet Asset Management Inc. boosted its stake in Fidelity Fundamental Small-Mid Cap ETF by 43.1% during the 2nd quarter. Envestnet Asset Management Inc. now owns 181,554 shares of the company’s stock valued at $6,937,000 after purchasing an additional 54,716 shares in the last quarter.

Fidelity Fundamental Small-Mid Cap ETF Company Profile

The Fidelity Fundamental Small-Mid Cap ETF (FFSM) is an exchange-traded fund that mostly invests in extended market equity. The fund is an actively managed, non-transparent ETF that invests in global stocks with small to medium capitalization. The fund utilizes the Fidelity non-transparent model. FFSM was launched on Feb 2, 2021 and is issued by Fidelity.