Fidelity Momentum Factor ETF (NYSEARCA:FDMO) Short Interest Up 138.5% in July

Fidelity Momentum Factor ETF (NYSEARCA:FDMO) saw a large growth in short interest in the month of July. As of July 15th, there was short interest totaling 43,085 shares, a growth of 138.5% from the June 30th total of 18,065 shares. Currently, 0.4% of the shares of the stock are sold short. Based on an average trading volume of 93,507 shares, the short-interest ratio is presently 0.5 days.

Hedge Funds Weigh In On Fidelity Momentum Factor ETF

A number of large investors have recently modified their holdings of FDMO. Russell Investments Group Ltd. acquired a new position in Fidelity Momentum Factor ETF during the fourth quarter valued at approximately $26,000. Larson Financial Group LLC acquired a new position in shares of Fidelity Momentum Factor ETF during the 3rd quarter worth approximately $50,000. CWM LLC raised its stake in shares of Fidelity Momentum Factor ETF by 4,392.9% during the 4th quarter. CWM LLC now owns 629 shares of the company’s stock worth $53,000 after purchasing an additional 615 shares in the last quarter. Western Wealth Management LLC bought a new stake in shares of Fidelity Momentum Factor ETF during the 1st quarter worth approximately $58,000. Finally, High Point Wealth Management LLC acquired a new stake in shares of Fidelity Momentum Factor ETF in the 4th quarter valued at approximately $85,000.

Fidelity Momentum Factor ETF Stock Up 2.6%

NYSEARCA:FDMO traded up $2.32 during trading hours on Thursday, reaching $91.50. The company had a trading volume of 35,110 shares, compared to its average volume of 67,658. The firm has a market capitalization of $915 million, a PE ratio of 28.38 and a beta of 1.05. The stock has a 50-day moving average of $95.09 and a two-hundred day moving average of $89.03. Fidelity Momentum Factor ETF has a one year low of $76.22 and a one year high of $98.87.

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.