Fidelity Momentum Factor ETF (NYSEARCA:FDMO) Sees Large Decrease in Short Interest

Fidelity Momentum Factor ETF (NYSEARCA:FDMO) saw a significant decline in short interest in March. As of March 31st, there was short interest totaling 39,060 shares, a decline of 41.8% from the March 15th total of 67,127 shares. Based on an average daily volume of 134,650 shares, the days-to-cover ratio is currently 0.3 days. Currently, 0.4% of the company’s stock are sold short.

Fidelity Momentum Factor ETF Stock Performance

Shares of NYSEARCA FDMO traded up $0.14 during mid-day trading on Monday, hitting $84.94. 154,413 shares of the stock traded hands, compared to its average volume of 75,015. Fidelity Momentum Factor ETF has a 52 week low of $59.54 and a 52 week high of $88.11. The company has a market cap of $772.95 million, a price-to-earnings ratio of 28.38 and a beta of 1.05. The stock has a fifty day moving average price of $82.84 and a 200-day moving average price of $83.72.

Institutional Investors Weigh In On Fidelity Momentum Factor ETF

Several hedge funds have recently added to or reduced their stakes in FDMO. Integrated Wealth Concepts LLC bought a new stake in Fidelity Momentum Factor ETF in the first quarter worth $450,000. NewEdge Advisors LLC boosted its holdings in 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 in the last quarter. Goldman Sachs Group Inc. boosted its holdings in 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 worth $2,273,000 after acquiring an additional 31,170 shares in the last quarter. Jane Street Group LLC bought a new stake in Fidelity Momentum Factor ETF in the first quarter worth $2,329,000. Finally, JPMorgan Chase & Co. boosted its holdings in Fidelity Momentum Factor ETF by 77.6% in the second quarter. JPMorgan Chase & Co. now owns 29,822 shares of the company’s stock worth $2,262,000 after acquiring an additional 13,035 shares in 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.