Fidelity Disruptive Technology ETF (NASDAQ:FDTX) Sees Large Growth in Short Interest

Fidelity Disruptive Technology ETF (NASDAQ:FDTX) was the recipient of a significant increase in short interest in the month of March. As of March 13th, there was short interest totaling 2,496 shares, an increase of 83.0% from the February 26th total of 1,364 shares. Currently, 0.1% of the shares of the company are sold short. Based on an average trading volume of 13,665 shares, the days-to-cover ratio is currently 0.2 days.

Fidelity Disruptive Technology ETF Stock Down 3.7%

Shares of FDTX stock opened at $36.66 on Friday. The company has a market cap of $172.30 million, a P/E ratio of 36.21 and a beta of 1.52. The business has a 50 day moving average of $39.10 and a two-hundred day moving average of $40.24. Fidelity Disruptive Technology ETF has a 52 week low of $26.71 and a 52 week high of $43.80.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Kestra Advisory Services LLC acquired a new stake in Fidelity Disruptive Technology ETF in the fourth quarter worth $31,000. Sunbelt Securities Inc. acquired a new position in shares of Fidelity Disruptive Technology ETF during the third quarter valued at $34,000. High Point Wealth Management LLC acquired a new position in shares of Fidelity Disruptive Technology ETF during the fourth quarter valued at $41,000. Northwestern Mutual Wealth Management Co. grew its position in shares of Fidelity Disruptive Technology ETF by 1,017.0% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 1,050 shares of the company’s stock worth $45,000 after acquiring an additional 956 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC acquired a new stake in shares of Fidelity Disruptive Technology ETF in the 4th quarter worth about $205,000.

Fidelity Disruptive Technology ETF Company Profile

The Fidelity Disruptive Technology ETF (FDTX) is an exchange-traded fund that mostly invests in stocks based on a particular theme. The fund is an actively managed fund that invests in innovative businesses believed to have the potential for market disruption. The fund holds global disruptive technology companies, from machine learning to next-generation hardware and AI. FDTX was launched on Apr 16, 2020 and is managed by Fidelity.