Fidelity Momentum Factor ETF (NYSEARCA:FDMO) Stock Short Interest Drops 76.1%

Fidelity Momentum Factor ETF (NYSEARCA:FDMO) saw a large decline in short interest during the month of October. As of October 30th, there was short interest totaling 9,111 shares, a decline of 76.1% from the October 15th total of 38,133 shares. Based on an average daily trading volume, of 37,793 shares, the short-interest ratio is presently 0.2 days. Approximately 0.1% of the shares of the stock are short sold.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. Envestnet Asset Management Inc. raised its stake in Fidelity Momentum Factor ETF by 3.4% in the 2nd quarter. Envestnet Asset Management Inc. now owns 1,463,420 shares of the company’s stock valued at $144,249,000 after purchasing an additional 48,587 shares during the last quarter. Cetera Investment Advisers boosted its stake in Fidelity Momentum Factor ETF by 5.4% during the first quarter. Cetera Investment Advisers now owns 205,666 shares of the company’s stock worth $16,474,000 after buying an additional 10,603 shares during the period. B. Riley Wealth Advisors Inc. acquired a new stake in shares of Fidelity Momentum Factor ETF in the third quarter valued at $8,627,000. Mosley Wealth Management increased its stake in Fidelity Momentum Factor ETF by 4.5% during the 3rd quarter. Mosley Wealth Management now owns 90,977 shares of the company’s stock worth $8,488,000 after buying an additional 3,914 shares during the period. Finally, MGO One Seven LLC purchased a new position in shares of Fidelity Momentum Factor ETF in the 3rd quarter valued at about $7,339,000.

Fidelity Momentum Factor ETF Price Performance

NYSEARCA FDMO opened at $89.66 on Thursday. The company has a market cap of $815.91 million, a PE ratio of 21.45 and a beta of 1.06. The stock’s 50 day simple moving average is $93.19 and its 200-day simple moving average is $90.86. Fidelity Momentum Factor ETF has a 1-year low of $76.63 and a 1-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.