Fidelity Preferred Securities & Income ETF (BATS:FPFD) Sees Large Drop in Short Interest

Fidelity Preferred Securities & Income ETF (BATS:FPFD) was the recipient of a large drop in short interest in May. As of May 29th, there was short interest totaling 2,483 shares, a drop of 64.0% from the May 14th total of 6,902 shares. Currently, 0.1% of the shares of the stock are sold short. Based on an average daily trading volume, of 16,850 shares, the days-to-cover ratio is currently 0.1 days.

Fidelity Preferred Securities & Income ETF Stock Performance

Shares of Fidelity Preferred Securities & Income ETF stock traded down $0.01 on Friday, hitting $21.52. 17,620 shares of the company traded hands, compared to its average volume of 20,764. The firm’s 50-day simple moving average is $21.68 and its 200 day simple moving average is $21.82. Fidelity Preferred Securities & Income ETF has a 12-month low of $21.35 and a 12-month high of $22.34.

Institutional Trading of Fidelity Preferred Securities & Income ETF

Large investors have recently added to or reduced their stakes in the business. Ransom Advisory Ltd bought a new stake in Fidelity Preferred Securities & Income ETF during the fourth quarter valued at approximately $38,000. Advisory Services Network LLC bought a new stake in Fidelity Preferred Securities & Income ETF during the third quarter valued at approximately $63,000. Kestra Advisory Services LLC bought a new stake in Fidelity Preferred Securities & Income ETF during the fourth quarter valued at approximately $65,000. Sound Income Strategies LLC grew its position in Fidelity Preferred Securities & Income ETF by 35.3% during the fourth quarter. Sound Income Strategies LLC now owns 3,163 shares of the company’s stock valued at $70,000 after buying an additional 826 shares during the period. Finally, Comerica Bank bought a new stake in Fidelity Preferred Securities & Income ETF during the fourth quarter valued at approximately $137,000.

About Fidelity Preferred Securities & Income ETF

The Fidelity Preferred Securities & Income ETF (FPFD) is an exchange-traded fund that mostly invests in broad credit fixed income. The fund actively invests in preferred and other income producing securities rated at least BB, issued by domestic and foreign issuers, with no specific target maturity. FPFD was launched on Jun 15, 2021 and is managed by Fidelity.