Fidelity NASDAQ Composite Index ETF (NASDAQ:ONEQ) Sees Large Increase in Short Interest

Fidelity NASDAQ Composite Index ETF (NASDAQ:ONEQ) saw a significant growth in short interest in the month of August. As of August 31st, there was short interest totaling 121,677 shares, a growth of 62.7% from the August 15th total of 74,800 shares. Based on an average daily trading volume, of 188,286 shares, the days-to-cover ratio is currently 0.6 days. Currently, 0.1% of the company’s shares are short sold.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. IFP Advisors Inc boosted its position in shares of Fidelity NASDAQ Composite Index ETF by 1.2% during the second quarter. IFP Advisors Inc now owns 26,975 shares of the company’s stock valued at $2,784,000 after purchasing an additional 332 shares in the last quarter. Corient Private Wealth LP raised its holdings in Fidelity NASDAQ Composite Index ETF by 1.0% in the second quarter. Corient Private Wealth LP now owns 11,912 shares of the company’s stock worth $1,230,000 after purchasing an additional 116 shares in the last quarter. Ameritas Advisory Services LLC raised its holdings in Fidelity NASDAQ Composite Index ETF by 38.1% in the second quarter. Ameritas Advisory Services LLC now owns 7,575 shares of the company’s stock worth $782,000 after purchasing an additional 2,088 shares in the last quarter. Schuylkill Financial LLC purchased a new position in Fidelity NASDAQ Composite Index ETF during the second quarter valued at $49,000. Finally, Compass Financial Management LLC purchased a new position in Fidelity NASDAQ Composite Index ETF during the second quarter valued at $212,000.

Fidelity NASDAQ Composite Index ETF Price Performance

ONEQ stock traded up $1.72 during trading on Thursday, reaching $104.19. The company had a trading volume of 217,816 shares, compared to its average volume of 342,272. Fidelity NASDAQ Composite Index ETF has a 52 week low of $81.45 and a 52 week high of $107.07. The business has a 50 day moving average of $102.70 and a 200 day moving average of $98.76. The company has a market cap of $10.81 billion, a P/E ratio of 28.20 and a beta of 1.22.

About Fidelity NASDAQ Composite Index ETF

Fidelity Nasdaq Composite Index Tracking Stock (the Fund) is an exchange-traded fund . The Fund seeks to provide investment returns that closely correspond to the price and yield performance of the NASDAQ Composite Index (the Index). The Fund normally invests at least 80% of assets in common stocks included in the Index .The NASDAQ Composite Index is a market capitalization-weighted index that is designed to represent the performance of NASDAQ securities and includes over 3,000 stocks. The Fund uses statistical sampling techniques that take into account such factors as capitalization, industry exposures, dividend yield, price/earnings (P/E) ratio, price/book (P/B) ratio, and earnings growth to create a portfolio of securities listed in the index that have a similar investment profile to the entire the Index.