Fidelity Momentum Factor ETF (NYSEARCA:FDMO) Short Interest Up 106.6% in April

Fidelity Momentum Factor ETF (NYSEARCA:FDMO) was the recipient of a significant increase in short interest in April. As of April 30th, there was short interest totaling 69,492 shares, an increase of 106.6% from the April 15th total of 33,640 shares. Currently, 0.7% of the shares of the company are short sold. Based on an average daily volume of 54,528 shares, the days-to-cover ratio is currently 1.3 days.

Fidelity Momentum Factor ETF Price Performance

NYSEARCA FDMO traded down $1.46 during trading hours on Monday, hitting $91.96. The company’s stock had a trading volume of 28,158 shares, compared to its average volume of 69,665. Fidelity Momentum Factor ETF has a 12 month low of $70.04 and a 12 month high of $95.38. The company’s 50 day simple moving average is $85.57 and its two-hundred day simple moving average is $84.94. The company has a market cap of $855.23 million, a P/E ratio of 28.38 and a beta of 1.05.

Hedge Funds Weigh In On Fidelity Momentum Factor ETF

Hedge funds and other institutional investors have recently modified their holdings of the company. Russell Investments Group Ltd. purchased a new stake in Fidelity Momentum Factor ETF during the fourth quarter valued at $26,000. Larson Financial Group LLC bought a new stake in shares of Fidelity Momentum Factor ETF during the 3rd quarter valued at about $50,000. Cornerstone Planning Group LLC purchased a new stake in shares of Fidelity Momentum Factor ETF during the 3rd quarter valued at about $53,000. CWM LLC lifted its stake in shares of Fidelity Momentum Factor ETF by 4,392.9% in the 4th quarter. CWM LLC now owns 629 shares of the company’s stock worth $53,000 after purchasing an additional 615 shares during the period. Finally, High Point Wealth Management LLC bought a new position in shares of Fidelity Momentum Factor ETF in the 4th quarter worth approximately $85,000.

Fidelity Momentum Factor ETF Company Profile

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.