Fidelity Enhanced Small Cap ETF (NYSEARCA:FESM) Sees Large Decline in Short Interest

Fidelity Enhanced Small Cap ETF (NYSEARCA:FESM) was the recipient of a large decrease in short interest during the month of August. As of August 14th, there was short interest totaling 319,276 shares, a decrease of 45.9% from the July 30th total of 590,575 shares. Based on an average trading volume of 923,906 shares, the days-to-cover ratio is currently 0.3 days. Approximately 0.2% of the company’s stock are sold short.

Hedge Funds Weigh In On Fidelity Enhanced Small Cap ETF

Hedge funds have recently added to or reduced their stakes in the stock. Johnson Financial Group Inc. acquired a new position in shares of Fidelity Enhanced Small Cap ETF in the 4th quarter valued at approximately $66,000. PNC Financial Services Group Inc. acquired a new position in shares of Fidelity Enhanced Small Cap ETF during the fourth quarter worth $83,000. IFP Advisors Inc acquired a new stake in shares of Fidelity Enhanced Small Cap ETF during the 4th quarter valued at $85,000. Advisory Services Network LLC acquired a new stake in shares of Fidelity Enhanced Small Cap ETF during the third quarter valued at about $155,000. Finally, JPMorgan Chase & Co. grew its holdings in shares of Fidelity Enhanced Small Cap ETF by 9,180.0% during the third quarter. JPMorgan Chase & Co. now owns 4,640 shares of the company’s stock worth $170,000 after purchasing an additional 4,590 shares during the last quarter.

Fidelity Enhanced Small Cap ETF Trading Down 1.3%

Shares of NYSEARCA:FESM traded down $0.64 on Friday, reaching $47.40. 794,767 shares of the company’s stock were exchanged, compared to its average volume of 746,612. Fidelity Enhanced Small Cap ETF has a twelve month low of $34.83 and a twelve month high of $48.93. The company has a fifty day moving average of $47.62 and a 200-day moving average of $43.79. The company has a market capitalization of $6.11 billion, a price-to-earnings ratio of 16.78 and a beta of 1.31.

About Fidelity Enhanced Small Cap ETF

The Fidelity Enhanced Small Cap ETF (FESM) is an exchange-traded fund that mostly invests in small-cap stocks. The fund is an actively managed fund that invests in US, small-cap companies. Stock selection is based on computer-aided analysis, which chooses stocks belonging to the Russel 2000 Index. FESM was launched on Dec 20, 2007 and is issued by Fidelity.