Short Interest in Fidelity High Yield Factor ETF (NYSEARCA:FDHY) Drops By 57.9%

Fidelity High Yield Factor ETF (NYSEARCA:FDHY) saw a significant drop in short interest in January. As of January 30th, there was short interest totaling 19,788 shares, a drop of 57.9% from the January 15th total of 46,959 shares. Based on an average daily trading volume, of 89,411 shares, the days-to-cover ratio is presently 0.2 days. Approximately 0.2% of the shares of the stock are short sold. Approximately 0.2% of the shares of the stock are short sold. Based on an average daily trading volume, of 89,411 shares, the days-to-cover ratio is presently 0.2 days.

Fidelity High Yield Factor ETF Price Performance

NYSEARCA FDHY remained flat at $49.58 on Thursday. 104,068 shares of the company traded hands, compared to its average volume of 84,026. Fidelity High Yield Factor ETF has a 1-year low of $45.41 and a 1-year high of $49.71. The firm’s fifty day simple moving average is $49.44 and its 200 day simple moving average is $49.27.

Fidelity High Yield Factor ETF Cuts Dividend

The business also recently declared a monthly dividend, which was paid on Monday, February 2nd. Stockholders of record on Thursday, January 29th were paid a dividend of $0.236 per share. This represents a c) annualized dividend and a dividend yield of 5.7%. The ex-dividend date of this dividend was Thursday, January 29th.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Merit Financial Group LLC acquired a new stake in shares of Fidelity High Yield Factor ETF in the 3rd quarter valued at $2,761,000. Axxcess Wealth Management LLC boosted its holdings in Fidelity High Yield Factor ETF by 97.2% in the second quarter. Axxcess Wealth Management LLC now owns 71,255 shares of the company’s stock valued at $3,481,000 after acquiring an additional 35,120 shares during the last quarter. OmniStar Financial Group Inc. increased its position in Fidelity High Yield Factor ETF by 20.1% in the second quarter. OmniStar Financial Group Inc. now owns 50,751 shares of the company’s stock worth $2,479,000 after purchasing an additional 8,511 shares during the period. CWM LLC bought a new stake in Fidelity High Yield Factor ETF during the 2nd quarter worth about $209,000. Finally, Flavin Financial Services Inc. boosted its stake in shares of Fidelity High Yield Factor ETF by 1.6% in the 2nd quarter. Flavin Financial Services Inc. now owns 78,729 shares of the company’s stock valued at $3,846,000 after purchasing an additional 1,225 shares during the last quarter.

Fidelity High Yield Factor ETF Company Profile

The Fidelity High Yield Factor ETF (FDHY) is an exchange-traded fund that mostly invests in high yield fixed income. The fund is an actively managed fund using a quantitative screen to select high-yield bonds issued by US and foreign corporations. The fund seeks a high level of income, and may also seek capital appreciation. FDHY was launched on Jun 12, 2018 and is managed by Fidelity.