Fidelity Disruptive Medicine ETF (NASDAQ:FMED) Sees Large Increase in Short Interest

Fidelity Disruptive Medicine ETF (NASDAQ:FMED) was the recipient of a large increase in short interest in the month of August. As of August 14th, there was short interest totaling 1,098 shares, an increase of 237.8% from the July 30th total of 325 shares. Based on an average daily volume of 3,918 shares, the days-to-cover ratio is presently 0.3 days. Currently, 0.1% of the shares of the company are sold short.

Fidelity Disruptive Medicine ETF Stock Down 1.9%

NASDAQ FMED traded down $0.63 during trading on Friday, hitting $31.84. The company’s stock had a trading volume of 1,888 shares, compared to its average volume of 10,942. The firm has a 50 day moving average price of $29.35 and a 200 day moving average price of $26.60. The firm has a market cap of $50.94 million, a P/E ratio of 41.33 and a beta of 0.75. Fidelity Disruptive Medicine ETF has a 52 week low of $23.48 and a 52 week high of $32.89.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in FMED. Jane Street Group LLC grew its position in Fidelity Disruptive Medicine ETF by 0.8% during the first quarter. Jane Street Group LLC now owns 66,382 shares of the company’s stock worth $1,567,000 after buying an additional 499 shares in the last quarter. Virtu Financial LLC acquired a new position in shares of Fidelity Disruptive Medicine ETF in the fourth quarter valued at $228,000. Finally, Vise Technologies Inc. bought a new position in Fidelity Disruptive Medicine ETF in the fourth quarter worth $234,000.

About Fidelity Disruptive Medicine ETF

The Fidelity Disruptive Medicine ETF (FMED) is an exchange-traded fund that mostly invests in health care equity. The fund is an actively managed fund that invests in companies involved in disruptive innovation in Health Care. The fund invests in securities of domestic and foreign issuers FMED was launched on Apr 16, 2020 and is managed by Fidelity.