Short Interest in Fidelity Small-Mid Multifactor ETF (NYSEARCA:FSMD) Drops By 47.6%

Fidelity Small-Mid Multifactor ETF (NYSEARCA:FSMD) saw a large drop in short interest in August. As of August 31st, there was short interest totaling 36,518 shares, a drop of 47.6% from the August 15th total of 69,743 shares. Based on an average trading volume of 99,449 shares, the days-to-cover ratio is currently 0.4 days. Approximately 0.1% of the shares of the stock are short sold.

Institutional Trading of Fidelity Small-Mid Multifactor ETF

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Western Wealth Management LLC acquired a new stake in Fidelity Small-Mid Multifactor ETF during the 1st quarter worth approximately $27,000. Global Assets Advisory LLC bought a new stake in shares of Fidelity Small-Mid Multifactor ETF in the first quarter worth $35,000. Creative Financial Designs Inc. ADV grew its stake in shares of Fidelity Small-Mid Multifactor ETF by 283.9% in the fourth quarter. Creative Financial Designs Inc. ADV now owns 975 shares of the company’s stock worth $43,000 after purchasing an additional 721 shares during the last quarter. Portfolio Resources Advisor Group Inc. acquired a new stake in Fidelity Small-Mid Multifactor ETF in the fourth quarter valued at $49,000. Finally, Allworth Financial LP increased its holdings in Fidelity Small-Mid Multifactor ETF by 28.0% in the second quarter. Allworth Financial LP now owns 1,986 shares of the company’s stock valued at $105,000 after purchasing an additional 435 shares during the period.

Fidelity Small-Mid Multifactor ETF Price Performance

FSMD stock traded down $0.10 during midday trading on Wednesday, reaching $50.10. 163,736 shares of the stock were exchanged, compared to its average volume of 131,631. The stock has a market capitalization of $2.47 billion, a PE ratio of 16.74 and a beta of 0.93. Fidelity Small-Mid Multifactor ETF has a 52 week low of $41.86 and a 52 week high of $53.48. The company has a fifty day moving average price of $51.42 and a 200 day moving average price of $49.51.

About Fidelity Small-Mid Multifactor ETF

The Fidelity Small-Mid Factor ETF (FSMD) is an exchange-traded fund that is based on the Fidelity Small-Mid Multifactor index. The fund tracks a multi-factored index of US companies. FSMD was launched on Feb 26, 2019 and is managed by Fidelity.