Short Interest in Fidelity High Yield Factor ETF (NYSEARCA:FDHY) Drops By 57.9%

Fidelity High Yield Factor ETF (NYSEARCA:FDHY) was the target of a large decrease in short interest in January. As of January 30th, there was short interest totaling 19,788 shares, a decrease of 57.9% from the January 15th total of 46,959 shares. Based on an average daily volume of 89,411 shares, the days-to-cover ratio is presently 0.2 days. Currently, 0.2% of the company’s stock are short sold. Currently, 0.2% of the company’s stock are short sold. Based on an average daily volume of 89,411 shares, the days-to-cover ratio is presently 0.2 days.

Fidelity High Yield Factor ETF Stock Performance

FDHY stock remained flat at $49.58 during mid-day trading on Thursday. 104,068 shares of the company’s stock traded hands, compared to its average volume of 84,026. Fidelity High Yield Factor ETF has a 52-week low of $45.41 and a 52-week high of $49.71. The business has a fifty day simple moving average of $49.44 and a 200 day simple moving average of $49.27.

Fidelity High Yield Factor ETF Cuts Dividend

The business also recently announced a monthly dividend, which was paid on Monday, February 2nd. Investors of record on Thursday, January 29th were paid a $0.236 dividend. The ex-dividend date of this dividend was Thursday, January 29th. This represents a c) dividend on an annualized basis and a yield of 5.7%.

Institutional Trading of Fidelity High Yield Factor ETF

Several hedge funds and other institutional investors have recently modified their holdings of FDHY. Merit Financial Group LLC bought a new stake in shares of Fidelity High Yield Factor ETF in the third quarter valued at about $2,761,000. Axxcess Wealth Management LLC grew its holdings in shares of Fidelity High Yield Factor ETF by 97.2% during the second quarter. Axxcess Wealth Management LLC now owns 71,255 shares of the company’s stock worth $3,481,000 after buying an additional 35,120 shares in the last quarter. Flavin Financial Services Inc. raised its position in Fidelity High Yield Factor ETF by 1.6% in the 2nd quarter. Flavin Financial Services Inc. now owns 78,729 shares of the company’s stock valued at $3,846,000 after buying an additional 1,225 shares during the last quarter. CWM LLC bought a new stake in Fidelity High Yield Factor ETF in the 2nd quarter valued at approximately $209,000. Finally, OmniStar Financial Group Inc. boosted its position in Fidelity High Yield Factor ETF by 20.1% during the 2nd quarter. OmniStar Financial Group Inc. now owns 50,751 shares of the company’s stock worth $2,479,000 after acquiring an additional 8,511 shares during the last quarter.

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.