Fidelity Small-Mid Multifactor ETF (NYSEARCA:FSMD) Short Interest Down 67.6% in May

Fidelity Small-Mid Multifactor ETF (NYSEARCA:FSMD) was the target of a large drop in short interest in May. As of May 29th, there was short interest totaling 19,239 shares, a drop of 67.6% from the May 14th total of 59,308 shares. Based on an average trading volume of 99,909 shares, the short-interest ratio is presently 0.2 days. Approximately 0.0% of the shares of the company are short sold.

Fidelity Small-Mid Multifactor ETF Stock Performance

Shares of FSMD stock opened at $49.76 on Thursday. The stock’s 50 day simple moving average is $48.68 and its 200 day simple moving average is $46.58. Fidelity Small-Mid Multifactor ETF has a twelve month low of $40.18 and a twelve month high of $50.93. The company has a market capitalization of $2.41 billion, a price-to-earnings ratio of 16.74 and a beta of 0.94.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Western Wealth Management LLC bought a new position in shares of Fidelity Small-Mid Multifactor ETF in the 1st quarter valued at approximately $27,000. Toth Financial Advisory Corp acquired a new stake in Fidelity Small-Mid Multifactor ETF in the 4th quarter valued at approximately $28,000. Global Assets Advisory LLC bought a new position in Fidelity Small-Mid Multifactor ETF in the 1st quarter worth approximately $35,000. EverSource Wealth Advisors LLC bought a new position in Fidelity Small-Mid Multifactor ETF in the 2nd quarter worth approximately $33,000. Finally, Creative Financial Designs Inc. ADV increased its position in Fidelity Small-Mid Multifactor ETF by 283.9% in the 4th quarter. Creative Financial Designs Inc. ADV now owns 975 shares of the company’s stock worth $43,000 after buying an additional 721 shares during the period.

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.