Short Interest in Fidelity Disruptive Medicine ETF (NASDAQ:FMED) Drops By 38.3%

Fidelity Disruptive Medicine ETF (NASDAQ:FMED) saw a significant drop in short interest in December. As of December 31st, there was short interest totaling 1,558 shares, a drop of 38.3% from the December 15th total of 2,524 shares. Based on an average daily volume of 3,750 shares, the days-to-cover ratio is currently 0.4 days. Currently, 0.1% of the company’s stock are short sold. Currently, 0.1% of the company’s stock are short sold. Based on an average daily volume of 3,750 shares, the days-to-cover ratio is currently 0.4 days.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Fidelity Disruptive Medicine ETF stock. Jane Street Group LLC increased its holdings in Fidelity Disruptive Medicine ETF (NASDAQ:FMED) by 0.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 66,382 shares of the company’s stock after purchasing an additional 499 shares during the period. Jane Street Group LLC owned 3.16% of Fidelity Disruptive Medicine ETF worth $1,567,000 as of its most recent SEC filing.

Fidelity Disruptive Medicine ETF Stock Performance

Fidelity Disruptive Medicine ETF stock traded down $0.05 during midday trading on Friday, hitting $27.47. 3,952 shares of the company’s stock were exchanged, compared to its average volume of 9,823. The firm’s 50 day simple moving average is $27.62 and its 200 day simple moving average is $25.72. Fidelity Disruptive Medicine ETF has a 12-month low of $20.69 and a 12-month high of $29.07. The stock has a market cap of $63.18 million, a price-to-earnings ratio of 41.33 and a beta of 1.00.

About Fidelity Disruptive Medicine ETF

The Fidelity Disruptive Medicine ETF (FMED) is an exchange-traded fund that mostly invests in health care equity. The fund is an actively managed fund that invests in companies involved in disruptive innovation in Health Care. The fund invests in securities of domestic and foreign issuers FMED was launched on Apr 16, 2020 and is managed by Fidelity.