Short Interest in Fidelity Quality Factor ETF (NYSEARCA:FQAL) Grows By 707.4%

Fidelity Quality Factor ETF (NYSEARCA:FQAL) saw a large growth in short interest in the month of July. As of July 15th, there was short interest totaling 22,342 shares, a growth of 707.4% from the June 30th total of 2,767 shares. Based on an average daily volume of 30,829 shares, the days-to-cover ratio is currently 0.7 days. Approximately 0.1% of the company’s shares are sold short.

Institutional Investors Weigh In On Fidelity Quality Factor ETF

A number of institutional investors and hedge funds have recently modified their holdings of FQAL. Breakwater Capital Group boosted its holdings in Fidelity Quality Factor ETF by 19.2% during the 2nd quarter. Breakwater Capital Group now owns 15,308 shares of the company’s stock valued at $1,245,000 after acquiring an additional 2,466 shares during the period. Canandaigua National Bank & Trust Co. purchased a new stake in Fidelity Quality Factor ETF in the second quarter worth $350,000. Midwest Financial Network LLC purchased a new stake in Fidelity Quality Factor ETF in the first quarter worth $408,000. Western Wealth Management LLC bought a new stake in shares of Fidelity Quality Factor ETF during the first quarter worth $46,000. Finally, Royal Bank of Canada lifted its position in shares of Fidelity Quality Factor ETF by 11.7% during the first quarter. Royal Bank of Canada now owns 2,782 shares of the company’s stock worth $202,000 after purchasing an additional 292 shares during the last quarter.

Fidelity Quality Factor ETF Price Performance

Shares of NYSEARCA FQAL opened at $81.54 on Friday. Fidelity Quality Factor ETF has a 1 year low of $69.85 and a 1 year high of $82.88. The firm has a 50-day simple moving average of $80.99 and a two-hundred day simple moving average of $77.87. The company has a market cap of $1.40 billion, a P/E ratio of 25.46 and a beta of 0.94.

Fidelity Quality Factor ETF Company Profile

The Fidelity Quality Factor ETF (FQAL) is an exchange-traded fund that is based on the Fidelity U.S. Quality Factor index. The fund tracks an index of fundamentally- selected large and mid- cap US companies that are weighted according to a tiered scheme. FQAL was launched on Sep 12, 2016 and is managed by Fidelity.