Fidelity High Yield Factor ETF (NYSEARCA:FDHY) Sees Large Drop in Short Interest

Fidelity High Yield Factor ETF (NYSEARCA:FDHY) was the target of a large decrease in short interest in September. As of September 15th, there was short interest totaling 6,516 shares, a decrease of 65.3% from the August 31st total of 18,770 shares. Approximately 0.1% of the shares of the stock are sold short. Based on an average daily volume of 93,453 shares, the days-to-cover ratio is presently 0.1 days.

Fidelity High Yield Factor ETF Price Performance

NYSEARCA:FDHY remained flat at $48.20 on Friday. 51,018 shares of the company traded hands, compared to its average volume of 82,036. Fidelity High Yield Factor ETF has a fifty-two week low of $48.00 and a fifty-two week high of $49.70. The company’s 50 day moving average price is $48.87 and its 200 day moving average price is $48.99.

Hedge Funds Weigh In On Fidelity High Yield Factor ETF

Large investors have recently bought and sold shares of the company. Solstein Capital LLC acquired a new position in shares of Fidelity High Yield Factor ETF in the second quarter valued at approximately $25,000. Nalls Sherbakoff Group LLC acquired a new stake in Fidelity High Yield Factor ETF during the 4th quarter worth approximately $25,000. Continuum Advisory LLC acquired a new stake in Fidelity High Yield Factor ETF during the 2nd quarter worth approximately $142,000. IFP Advisors Inc grew its holdings in Fidelity High Yield Factor ETF by 747.4% during the 4th quarter. IFP Advisors Inc now owns 2,932 shares of the company’s stock worth $145,000 after acquiring an additional 2,586 shares during the last quarter. Finally, Symphony Financial Ltd. Co. bought a new stake in Fidelity High Yield Factor ETF during the 2nd quarter worth approximately $250,000.

About Fidelity High Yield Factor ETF

The Fidelity High Yield Factor ETF (FDHY) is an exchange-traded fund that mostly invests in high yield fixed income. The fund is an actively managed fund using a quantitative screen to select high-yield bonds issued by US and foreign corporations. The fund seeks a high level of income, and may also seek capital appreciation. FDHY was launched on Jun 12, 2018 and is managed by Fidelity.