Short Interest in Fidelity Enhanced Mid Cap ETF (NYSEARCA:FMDE) Declines By 71.0%

Fidelity Enhanced Mid Cap ETF (NYSEARCA:FMDE) was the recipient of a significant decline in short interest in July. As of July 15th, there was short interest totaling 133,667 shares, a decline of 71.0% from the June 30th total of 460,392 shares. Based on an average daily trading volume, of 883,367 shares, the days-to-cover ratio is presently 0.2 days. Approximately 0.1% of the shares of the stock are sold short.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Royal Bank of Canada raised its stake in Fidelity Enhanced Mid Cap ETF by 777.6% during the first quarter. Royal Bank of Canada now owns 59,442 shares of the company’s stock valued at $1,863,000 after purchasing an additional 52,669 shares in the last quarter. Goldman Sachs Group Inc. grew its position in Fidelity Enhanced Mid Cap ETF by 12,968.9% in the first quarter. Goldman Sachs Group Inc. now owns 2,544,393 shares of the company’s stock worth $79,741,000 after acquiring an additional 2,524,924 shares in the last quarter. JPMorgan Chase & Co. increased its stake in Fidelity Enhanced Mid Cap ETF by 5.8% during the second quarter. JPMorgan Chase & Co. now owns 231,266 shares of the company’s stock worth $7,959,000 after acquiring an additional 12,728 shares during the last quarter. Main Street Financial Solutions LLC bought a new stake in Fidelity Enhanced Mid Cap ETF during the second quarter worth approximately $205,000. Finally, Betterment LLC purchased a new stake in Fidelity Enhanced Mid Cap ETF during the second quarter valued at approximately $387,000.

Fidelity Enhanced Mid Cap ETF Price Performance

Shares of Fidelity Enhanced Mid Cap ETF stock traded up $0.24 during trading on Tuesday, reaching $41.12. 342,060 shares of the stock traded hands, compared to its average volume of 951,645. The company has a market capitalization of $7.66 billion, a price-to-earnings ratio of 20.20 and a beta of 0.91. Fidelity Enhanced Mid Cap ETF has a 52-week low of $34.06 and a 52-week high of $41.23. The business has a fifty day simple moving average of $40.03 and a two-hundred day simple moving average of $38.31.

Fidelity Enhanced Mid Cap ETF Company Profile

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