Fidelity Small-Mid Multifactor ETF (NYSEARCA:FSMD) Stock Short Interest Jumps 67.4%

Fidelity Small-Mid Multifactor ETF (NYSEARCA:FSMD) saw a large growth in short interest in the month of September. As of September 15th, there was short interest totaling 61,132 shares, a growth of 67.4% from the August 31st total of 36,518 shares. Based on an average daily trading volume, of 152,736 shares, the short-interest ratio is presently 0.4 days. Currently, 0.1% of the company’s shares are short sold.

Fidelity Small-Mid Multifactor ETF Stock Performance

FSMD stock traded down $0.04 during mid-day trading on Wednesday, reaching $49.38. 111,161 shares of the stock traded hands, compared to its average volume of 134,208. Fidelity Small-Mid Multifactor ETF has a one year low of $41.86 and a one year high of $53.48. The stock has a market capitalization of $2.48 billion, a PE ratio of 16.74 and a beta of 0.93. The business has a 50-day moving average price of $51.18 and a two-hundred day moving average price of $49.75.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of FSMD. Retirement Planning Group LLC boosted its holdings in Fidelity Small-Mid Multifactor ETF by 28.5% during the 1st quarter. Retirement Planning Group LLC now owns 5,165,395 shares of the company’s stock valued at $230,996,000 after acquiring an additional 1,144,782 shares during the period. Envestnet Asset Management Inc. lifted its position in shares of Fidelity Small-Mid Multifactor ETF by 12.4% during the second quarter. Envestnet Asset Management Inc. now owns 2,369,532 shares of the company’s stock worth $125,230,000 after purchasing an additional 260,764 shares during the last quarter. Bank of America Corp DE boosted its stake in shares of Fidelity Small-Mid Multifactor ETF by 12.5% during the first quarter. Bank of America Corp DE now owns 1,277,438 shares of the company’s stock valued at $57,127,000 after purchasing an additional 141,664 shares during the period. Sanctuary Advisors LLC boosted its stake in shares of Fidelity Small-Mid Multifactor ETF by 94.5% during the first quarter. Sanctuary Advisors LLC now owns 841,578 shares of the company’s stock valued at $37,635,000 after purchasing an additional 408,953 shares during the period. Finally, Kestra Advisory Services LLC grew its holdings in shares of Fidelity Small-Mid Multifactor ETF by 14.4% in the first quarter. Kestra Advisory Services LLC now owns 558,311 shares of the company’s stock worth $24,968,000 after purchasing an additional 70,166 shares during the last quarter.

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.