Fidelity Momentum Factor ETF (NYSEARCA:FDMO) Short Interest Update

Fidelity Momentum Factor ETF (NYSEARCA:FDMO) was the target of a large drop in short interest in September. As of September 15th, there was short interest totaling 9,892 shares, a drop of 49.9% from the August 31st total of 19,741 shares. Approximately 0.1% of the company’s stock are sold short. Based on an average daily volume of 47,046 shares, the short-interest ratio is presently 0.2 days.

Fidelity Momentum Factor ETF Stock Performance

Shares of NYSEARCA:FDMO traded up $0.17 during midday trading on Tuesday, reaching $95.67. 7,865 shares of the company’s stock traded hands, compared to its average volume of 68,495. The company has a market cap of $918.48 million, a price-to-earnings ratio of 28.38 and a beta of 1.05. The stock has a 50 day moving average of $94.51 and a 200 day moving average of $91.93. Fidelity Momentum Factor ETF has a one year low of $76.63 and a one year high of $98.87.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of FDMO. Envestnet Asset Management Inc. lifted its stake in shares of Fidelity Momentum Factor ETF by 3.4% in the 2nd quarter. Envestnet Asset Management Inc. now owns 1,463,420 shares of the company’s stock worth $144,249,000 after purchasing an additional 48,587 shares during the period. Kestra Advisory Services LLC increased its stake in shares of Fidelity Momentum Factor ETF by 258.0% in the first quarter. Kestra Advisory Services LLC now owns 209,587 shares of the company’s stock worth $16,788,000 after purchasing an additional 151,049 shares in the last quarter. Cetera Investment Advisers raised its position in shares of Fidelity Momentum Factor ETF by 5.4% during the 1st quarter. Cetera Investment Advisers now owns 205,666 shares of the company’s stock valued at $16,474,000 after purchasing an additional 10,603 shares during the period. Marks Group Wealth Management Inc raised its position in shares of Fidelity Momentum Factor ETF by 1,548.7% during the 1st quarter. Marks Group Wealth Management Inc now owns 85,120 shares of the company’s stock valued at $6,818,000 after purchasing an additional 79,957 shares during the period. Finally, Commonwealth Equity Services LLC raised its position in shares of Fidelity Momentum Factor ETF by 23.1% during the 4th quarter. Commonwealth Equity Services LLC now owns 83,352 shares of the company’s stock valued at $6,998,000 after purchasing an additional 15,638 shares during the period.

About Fidelity Momentum Factor ETF

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.