Fidelity Momentum Factor ETF (NYSEARCA:FDMO) Stock Short Interest Falls 49.9%

Fidelity Momentum Factor ETF (NYSEARCA:FDMO) was the recipient of a large decline in short interest during the month of September. As of September 15th, there was short interest totaling 9,892 shares, a decline of 49.9% from the August 31st total of 19,741 shares. Currently, 0.1% of the company’s stock are short sold. Based on an average daily volume of 47,046 shares, the days-to-cover ratio is currently 0.2 days.

Institutional Investors Weigh In On Fidelity Momentum Factor ETF

Institutional investors have recently modified their holdings of the business. Envestnet Portfolio Solutions Inc. raised its position in Fidelity Momentum Factor ETF by 4.1% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 23,532 shares of the company’s stock valued at $2,320,000 after purchasing an additional 916 shares in the last quarter. Envestnet Asset Management Inc. lifted its holdings in Fidelity Momentum Factor ETF by 3.4% during the 2nd quarter. Envestnet Asset Management Inc. now owns 1,463,420 shares of the company’s stock worth $144,249,000 after buying an additional 48,587 shares during the period. Integrated Wealth Concepts LLC lifted its holdings in Fidelity Momentum Factor ETF by 10.6% during the 2nd quarter. Integrated Wealth Concepts LLC now owns 9,026 shares of the company’s stock worth $890,000 after buying an additional 865 shares during the period. NewEdge Advisors LLC grew its position in shares of Fidelity Momentum Factor ETF by 42.1% in the 2nd quarter. NewEdge Advisors LLC now owns 32,285 shares of the company’s stock valued at $3,182,000 after buying an additional 9,558 shares during the last quarter. Finally, Citadel Advisors LLC bought a new stake in shares of Fidelity Momentum Factor ETF in the 2nd quarter valued at about $1,167,000.

Fidelity Momentum Factor ETF Price Performance

FDMO stock traded down $0.43 during trading hours on Wednesday, reaching $95.00. The stock had a trading volume of 99,334 shares, compared to its average volume of 69,032. The stock has a market capitalization of $912 million, a PE ratio of 28.38 and a beta of 1.05. The stock has a 50-day simple moving average of $94.52 and a 200 day simple moving average of $92.02. Fidelity Momentum Factor ETF has a fifty-two week low of $76.63 and a fifty-two week high of $98.87.

Fidelity Momentum Factor ETF Company Profile

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.