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

Fidelity Momentum Factor ETF (NYSEARCA:FDMO) saw a significant drop in short interest in the month of September. As of September 30th, there was short interest totaling 3,684 shares, a drop of 62.8% from the September 15th total of 9,892 shares. Based on an average daily volume of 95,395 shares, the days-to-cover ratio is presently 0.0 days. Approximately 0.0% of the shares of the company are sold short.

Institutional Investors Weigh In On Fidelity Momentum Factor ETF

Hedge funds have recently bought and sold shares of the company. Western Wealth Management LLC bought a new position in shares of Fidelity Momentum Factor ETF in the first quarter worth about $58,000. Rockland Trust Co. acquired a new position in shares of Fidelity Momentum Factor ETF during the 2nd quarter worth about $319,000. World Investment Advisors bought a new stake in Fidelity Momentum Factor ETF during the 4th quarter valued at approximately $494,000. Worth Asset Management LLC bought a new stake in Fidelity Momentum Factor ETF during the 1st quarter valued at approximately $516,000. Finally, Stonehearth Capital Management LLC acquired a new stake in Fidelity Momentum Factor ETF in the 3rd quarter valued at approximately $601,000.

Fidelity Momentum Factor ETF Price Performance

Shares of NYSEARCA FDMO traded down $1.61 during trading hours on Wednesday, hitting $93.51. 18,747 shares of the stock were exchanged, compared to its average volume of 67,934. The company’s 50 day moving average is $95.10 and its 200 day moving average is $93.16. The firm has a market capitalization of $860.29 million, a P/E ratio of 28.38 and a beta of 1.05. Fidelity Momentum Factor ETF has a one year low of $76.63 and a one year high of $98.87.

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.