Fidelity Momentum Factor ETF (NYSEARCA:FDMO) Sees Significant Increase in Short Interest

Fidelity Momentum Factor ETF (NYSEARCA:FDMO) saw a significant increase in short interest in the month of February. As of February 13th, there was short interest totaling 35,819 shares, an increase of 53.2% from the January 29th total of 23,380 shares. Based on an average daily trading volume, of 78,641 shares, the days-to-cover ratio is currently 0.5 days. Currently, 0.5% of the company’s shares are short sold. Currently, 0.5% of the company’s shares are short sold. Based on an average daily trading volume, of 78,641 shares, the days-to-cover ratio is currently 0.5 days.

Hedge Funds Weigh In On Fidelity Momentum Factor ETF

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Envestnet Asset Management Inc. lifted its stake in Fidelity Momentum Factor ETF by 5.8% in the third quarter. Envestnet Asset Management Inc. now owns 1,258,647 shares of the company’s stock valued at $104,682,000 after buying an additional 68,770 shares in the last quarter. Great Lakes Retirement Inc. raised its holdings in shares of Fidelity Momentum Factor ETF by 0.7% during the fourth quarter. Great Lakes Retirement Inc. now owns 229,207 shares of the company’s stock worth $19,244,000 after acquiring an additional 1,645 shares during the period. Cetera Investment Advisers lifted its position in Fidelity Momentum Factor ETF by 10.9% in the 4th quarter. Cetera Investment Advisers now owns 195,063 shares of the company’s stock valued at $16,377,000 after acquiring an additional 19,229 shares in the last quarter. Raymond James Financial Inc. lifted its position in Fidelity Momentum Factor ETF by 1.6% in the 3rd quarter. Raymond James Financial Inc. now owns 132,268 shares of the company’s stock valued at $11,001,000 after acquiring an additional 2,109 shares in the last quarter. Finally, LPL Financial LLC boosted its stake in Fidelity Momentum Factor ETF by 87.3% in the 4th quarter. LPL Financial LLC now owns 106,798 shares of the company’s stock worth $8,967,000 after purchasing an additional 49,790 shares during the period.

Fidelity Momentum Factor ETF Price Performance

FDMO stock opened at $84.13 on Friday. The company’s 50 day simple moving average is $85.48 and its 200-day simple moving average is $83.42. The firm has a market capitalization of $630.98 million, a P/E ratio of 28.38 and a beta of 1.01. Fidelity Momentum Factor ETF has a 52-week low of $55.41 and a 52-week high of $88.11.

About Fidelity Momentum Factor ETF

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.