Great Lakes Retirement Inc. Raises Stock Position in Fidelity Momentum Factor ETF $FDMO

Great Lakes Retirement Inc. lifted its stake in shares of Fidelity Momentum Factor ETF (NYSEARCA:FDMO) by 0.8% during the second quarter, HoldingsChannel.com reports. The fund owned 228,747 shares of the company’s stock after buying an additional 1,797 shares during the quarter. Fidelity Momentum Factor ETF makes up approximately 2.1% of Great Lakes Retirement Inc.’s investment portfolio, making the stock its 11th biggest holding. Great Lakes Retirement Inc.’s holdings in Fidelity Momentum Factor ETF were worth $17,353,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently modified their holdings of FDMO. Ameritas Advisory Services LLC bought a new position in shares of Fidelity Momentum Factor ETF during the second quarter valued at approximately $43,000. Northwestern Mutual Wealth Management Co. boosted its stake in shares of Fidelity Momentum Factor ETF by 172.7% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 1,947 shares of the company’s stock valued at $127,000 after purchasing an additional 1,233 shares in the last quarter. Kestra Investment Management LLC boosted its stake in shares of Fidelity Momentum Factor ETF by 53.4% during the first quarter. Kestra Investment Management LLC now owns 3,415 shares of the company’s stock valued at $222,000 after purchasing an additional 1,189 shares in the last quarter. Assetmark Inc. bought a new position in shares of Fidelity Momentum Factor ETF during the first quarter valued at approximately $226,000. Finally, Axxcess Wealth Management LLC bought a new position in shares of Fidelity Momentum Factor ETF during the first quarter valued at approximately $255,000.

Fidelity Momentum Factor ETF Stock Performance

NYSEARCA FDMO opened at $85.10 on Friday. The firm’s 50 day moving average price is $82.16 and its 200-day moving average price is $76.22. Fidelity Momentum Factor ETF has a 52-week low of $55.41 and a 52-week high of $85.97. The company has a market cap of $570.17 million, a PE ratio of 28.38 and a beta of 1.01.

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.