Elevation Capital Advisory LLC Makes New Investment in Fidelity Momentum Factor ETF $FDMO

Elevation Capital Advisory LLC bought a new stake in shares of Fidelity Momentum Factor ETF (NYSEARCA:FDMO) during the 3rd quarter, HoldingsChannel reports. The firm bought 23,227 shares of the company’s stock, valued at approximately $1,932,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Envestnet Asset Management Inc. grew its holdings in Fidelity Momentum Factor ETF by 2.1% during the 2nd quarter. Envestnet Asset Management Inc. now owns 1,189,877 shares of the company’s stock valued at $90,264,000 after purchasing an additional 24,814 shares in the last quarter. Great Lakes Retirement Inc. increased its position in shares of Fidelity Momentum Factor ETF by 0.8% during the second quarter. Great Lakes Retirement Inc. now owns 228,747 shares of the company’s stock worth $17,353,000 after acquiring an additional 1,797 shares during the last quarter. Cetera Investment Advisers boosted its holdings in Fidelity Momentum Factor ETF by 6.5% in the second quarter. Cetera Investment Advisers now owns 141,318 shares of the company’s stock valued at $10,720,000 after purchasing an additional 8,633 shares during the last quarter. Raymond James Financial Inc. grew its stake in Fidelity Momentum Factor ETF by 9.5% during the 2nd quarter. Raymond James Financial Inc. now owns 130,159 shares of the company’s stock valued at $9,874,000 after purchasing an additional 11,278 shares in the last quarter. Finally, Commonwealth Equity Services LLC increased its holdings in Fidelity Momentum Factor ETF by 26.9% during the 3rd quarter. Commonwealth Equity Services LLC now owns 67,714 shares of the company’s stock worth $5,632,000 after purchasing an additional 14,358 shares during the last quarter.

Fidelity Momentum Factor ETF Stock Up 0.4%

Shares of FDMO opened at $86.42 on Friday. Fidelity Momentum Factor ETF has a 52-week low of $55.41 and a 52-week high of $87.60. The firm has a market cap of $630.87 million, a price-to-earnings ratio of 28.38 and a beta of 1.01. The business’s 50 day moving average is $84.46 and its two-hundred day moving average is $81.94.

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.