Fidelity U.S. Multifactor ETF (NYSEARCA:FLRG) Sees Significant Decline in Short Interest

Fidelity U.S. Multifactor ETF (NYSEARCA:FLRG) was the target of a significant decrease in short interest during the month of January. As of January 15th, there was short interest totaling 21,357 shares, a decrease of 33.2% from the December 31st total of 31,976 shares. Based on an average daily volume of 27,789 shares, the days-to-cover ratio is presently 0.8 days. Currently, 0.3% of the shares of the company are short sold. Currently, 0.3% of the shares of the company are short sold. Based on an average daily volume of 27,789 shares, the days-to-cover ratio is presently 0.8 days.

Fidelity U.S. Multifactor ETF Stock Down 0.5%

Shares of NYSEARCA FLRG traded down $0.18 during mid-day trading on Friday, hitting $38.65. 34,023 shares of the company were exchanged, compared to its average volume of 24,116. The stock has a 50 day simple moving average of $38.30 and a 200-day simple moving average of $37.75. Fidelity U.S. Multifactor ETF has a 1-year low of $28.97 and a 1-year high of $38.97. The firm has a market cap of $278.28 million, a price-to-earnings ratio of 20.13 and a beta of 0.87.

Institutional Investors Weigh In On Fidelity U.S. Multifactor ETF

Hedge funds have recently added to or reduced their stakes in the company. Evolution Wealth Management Inc. purchased a new stake in shares of Fidelity U.S. Multifactor ETF in the second quarter valued at approximately $45,000. Clarity Asset Management Inc. purchased a new position in shares of Fidelity U.S. Multifactor ETF in the 2nd quarter valued at about $55,000. Northwestern Mutual Wealth Management Co. acquired a new stake in shares of Fidelity U.S. Multifactor ETF in the second quarter valued at about $180,000. Silver Oak Securities Incorporated purchased a new stake in Fidelity U.S. Multifactor ETF during the third quarter worth about $214,000. Finally, Williams & Novak LLC purchased a new stake in Fidelity U.S. Multifactor ETF during the second quarter worth about $224,000.

About Fidelity U.S. Multifactor ETF

The Fidelity U.S. Multifactor ETF (FLRG) is an exchange-traded fund that is based on the Fidelity U.S. Multifactor index. The fund tracks an index large-cap US stocks selected by four factors – value, quality, low volatility, and momentum. FLRG was launched on Sep 15, 2020 and is managed by Fidelity.