Fidelity Disruptive Technology ETF (NASDAQ:FDTX) Sees Large Increase in Short Interest

Fidelity Disruptive Technology ETF (NASDAQ:FDTX) was the recipient of a significant increase in short interest in the month of August. As of August 14th, there was short interest totaling 14,379 shares, an increase of 99.1% from the July 30th total of 7,223 shares. Currently, 0.3% of the shares of the company are sold short. Based on an average daily volume of 43,456 shares, the days-to-cover ratio is presently 0.3 days.

Hedge Funds Weigh In On Fidelity Disruptive Technology ETF

Hedge funds and other institutional investors have recently modified their holdings of the stock. Kestra Advisory Services LLC bought a new stake in Fidelity Disruptive Technology ETF in the fourth quarter valued at $31,000. Sunbelt Securities Inc. acquired a new stake in shares of Fidelity Disruptive Technology ETF in the 3rd quarter valued at $34,000. Northwestern Mutual Wealth Management Co. grew its holdings in shares of Fidelity Disruptive Technology ETF by 1,017.0% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,050 shares of the company’s stock worth $45,000 after purchasing an additional 956 shares during the last quarter. Creative Planning acquired a new stake in shares of Fidelity Disruptive Technology ETF during the 3rd quarter worth about $211,000. Finally, VestGen Advisors LLC acquired a new stake in shares of Fidelity Disruptive Technology ETF during the 4th quarter worth about $224,000.

Fidelity Disruptive Technology ETF Stock Performance

Shares of FDTX stock opened at $54.58 on Friday. The firm has a fifty day moving average of $53.79 and a 200-day moving average of $47.71. Fidelity Disruptive Technology ETF has a 52-week low of $34.84 and a 52-week high of $62.47. The stock has a market cap of $289.27 million, a price-to-earnings ratio of 36.21 and a beta of 1.72.

About Fidelity Disruptive Technology ETF

The Fidelity Disruptive Technology ETF (FDTX) is an exchange-traded fund that mostly invests in stocks based on a particular theme. The fund is an actively managed fund that invests in innovative businesses believed to have the potential for market disruption. The fund holds global disruptive technology companies, from machine learning to next-generation hardware and AI. FDTX was launched on Apr 16, 2020 and is managed by Fidelity.