Fidelity Momentum Factor ETF (NYSEARCA:FDMO – Get Free Report) saw a large increase in short interest in October. As of October 15th, there was short interest totaling 38,133 shares, an increase of 935.1% from the September 30th total of 3,684 shares. Based on an average trading volume of 45,457 shares, the days-to-cover ratio is currently 0.8 days. Currently, 0.4% of the company’s stock are short sold.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Kestra Advisory Services LLC raised its stake in shares of Fidelity Momentum Factor ETF by 258.0% during the 1st quarter. Kestra Advisory Services LLC now owns 209,587 shares of the company’s stock worth $16,788,000 after purchasing an additional 151,049 shares in the last quarter. B. Riley Wealth Advisors Inc. acquired a new stake in shares of Fidelity Momentum Factor ETF during the 3rd quarter valued at about $8,627,000. Marks Group Wealth Management Inc lifted its holdings in shares of Fidelity Momentum Factor ETF by 1,548.7% during the 1st quarter. Marks Group Wealth Management Inc now owns 85,120 shares of the company’s stock valued at $6,818,000 after buying an additional 79,957 shares during the last quarter. Envestnet Asset Management Inc. grew its stake in shares of Fidelity Momentum Factor ETF by 3.4% in the 2nd quarter. Envestnet Asset Management Inc. now owns 1,463,420 shares of the company’s stock valued at $144,249,000 after buying an additional 48,587 shares in the last quarter. Finally, First Heartland Consultants Inc. bought a new stake in shares of Fidelity Momentum Factor ETF in the 3rd quarter valued at approximately $2,764,000.
Fidelity Momentum Factor ETF Stock Up 1.1%
Shares of FDMO traded up $0.96 during trading hours on Monday, reaching $90.97. The company’s stock had a trading volume of 38,910 shares, compared to its average volume of 66,859. The firm has a market cap of $836.92 million, a price-to-earnings ratio of 28.38 and a beta of 1.05. Fidelity Momentum Factor ETF has a 1-year low of $76.63 and a 1-year high of $98.87. The company has a 50 day moving average of $94.61 and a two-hundred day moving average of $90.67.
Fidelity Momentum Factor ETF Company Profile
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.
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