Fidelity Momentum Factor ETF (NYSEARCA:FDMO) Short Interest Down 50.0% in May

Fidelity Momentum Factor ETF (NYSEARCA:FDMO) was the target of a significant drop in short interest in the month of May. As of May 15th, there was short interest totaling 34,779 shares, a drop of 50.0% from the April 30th total of 69,492 shares. Approximately 0.4% of the company’s shares are sold short. Based on an average trading volume of 51,754 shares, the days-to-cover ratio is presently 0.7 days.

Hedge Funds Weigh In On Fidelity Momentum Factor ETF

Several institutional investors have recently bought and sold shares of FDMO. Russell Investments Group Ltd. purchased a new position in Fidelity Momentum Factor ETF during the fourth quarter valued at approximately $26,000. Larson Financial Group LLC purchased a new position in Fidelity Momentum Factor ETF during the third quarter valued at approximately $50,000. Cornerstone Planning Group LLC purchased a new position in Fidelity Momentum Factor ETF during the third quarter valued at approximately $53,000. CWM LLC increased its holdings in Fidelity Momentum Factor ETF by 4,392.9% during the fourth quarter. CWM LLC now owns 629 shares of the company’s stock valued at $53,000 after buying an additional 615 shares during the period. Finally, Western Wealth Management LLC purchased a new position in Fidelity Momentum Factor ETF during the first quarter valued at approximately $58,000.

Fidelity Momentum Factor ETF Price Performance

Shares of NYSEARCA:FDMO traded down $0.02 during trading on Monday, reaching $95.53. 41,434 shares of the company were exchanged, compared to its average volume of 67,369. The firm has a market capitalization of $888.43 million, a PE ratio of 28.38 and a beta of 1.05. The business’s fifty day simple moving average is $87.96 and its 200-day simple moving average is $85.62. Fidelity Momentum Factor ETF has a 12-month low of $71.68 and a 12-month high of $96.19.

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.