Fidelity Momentum Factor ETF (NYSEARCA:FDMO) Short Interest Up 138.5% in July

Fidelity Momentum Factor ETF (NYSEARCA:FDMO) was the target of a large growth in short interest during the month of July. As of July 15th, there was short interest totaling 43,085 shares, a growth of 138.5% from the June 30th total of 18,065 shares. Currently, 0.4% of the shares of the stock are short sold. Based on an average daily trading volume, of 93,507 shares, the days-to-cover ratio is currently 0.5 days.

Fidelity Momentum Factor ETF Stock Performance

NYSEARCA:FDMO traded down $2.28 during mid-day trading on Wednesday, hitting $89.18. 208,835 shares of the company’s stock traded hands, compared to its average volume of 67,925. The firm’s 50 day simple moving average is $95.17 and its 200 day simple moving average is $89.00. Fidelity Momentum Factor ETF has a 1 year low of $76.22 and a 1 year high of $98.87. The company has a market cap of $891.80 million, a PE ratio of 28.38 and a beta of 1.05.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Integrated Wealth Concepts LLC acquired a new stake in Fidelity Momentum Factor ETF during the 1st quarter valued at $450,000. NewEdge Advisors LLC raised its holdings in shares of Fidelity Momentum Factor ETF by 7.8% in the first quarter. NewEdge Advisors LLC now owns 12,341 shares of the company’s stock worth $803,000 after acquiring an additional 898 shares during the last quarter. Goldman Sachs Group Inc. lifted its position in shares of Fidelity Momentum Factor ETF by 827.9% in the first quarter. Goldman Sachs Group Inc. now owns 34,935 shares of the company’s stock valued at $2,273,000 after acquiring an additional 31,170 shares in the last quarter. Jane Street Group LLC purchased a new stake in shares of Fidelity Momentum Factor ETF in the first quarter valued at $2,329,000. Finally, JPMorgan Chase & Co. boosted its stake in shares of Fidelity Momentum Factor ETF by 77.6% during the second quarter. JPMorgan Chase & Co. now owns 29,822 shares of the company’s stock valued at $2,262,000 after acquiring an additional 13,035 shares during the last quarter.

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.