Fidelity Momentum Factor ETF (NYSEARCA:FDMO) Short Interest Down 54.0% in May

Fidelity Momentum Factor ETF (NYSEARCA:FDMO) saw a significant decline in short interest in the month of May. As of May 29th, there was short interest totaling 16,006 shares, a decline of 54.0% from the May 14th total of 34,779 shares. Based on an average trading volume of 41,321 shares, the days-to-cover ratio is currently 0.4 days. Approximately 0.2% of the shares of the company are short sold.

Fidelity Momentum Factor ETF Stock Up 2.4%

Shares of Fidelity Momentum Factor ETF stock traded up $2.24 on Monday, reaching $97.55. The company’s stock had a trading volume of 34,917 shares, compared to its average volume of 66,205. The company has a market capitalization of $907.22 million, a P/E ratio of 28.38 and a beta of 1.05. Fidelity Momentum Factor ETF has a 52-week low of $72.49 and a 52-week high of $97.74. The stock has a 50-day moving average price of $91.23 and a 200-day moving average price of $86.63.

Institutional Trading of Fidelity Momentum Factor ETF

A number of institutional investors and hedge funds have recently made changes to their positions in FDMO. Strategic Blueprint LLC increased its position in shares of Fidelity Momentum Factor ETF by 37.2% during the fourth quarter. Strategic Blueprint LLC now owns 32,812 shares of the company’s stock worth $2,755,000 after purchasing an additional 8,898 shares in the last quarter. Elevation Capital Advisory LLC increased its position in shares of Fidelity Momentum Factor ETF by 125.4% during the fourth quarter. Elevation Capital Advisory LLC now owns 52,354 shares of the company’s stock worth $4,396,000 after purchasing an additional 29,127 shares in the last quarter. Commonwealth Equity Services LLC increased its position in shares of Fidelity Momentum Factor ETF by 23.1% during the fourth quarter. Commonwealth Equity Services LLC now owns 83,352 shares of the company’s stock worth $6,998,000 after purchasing an additional 15,638 shares in the last quarter. Mosley Wealth Management purchased a new stake in shares of Fidelity Momentum Factor ETF during the fourth quarter worth approximately $618,000. Finally, Farther Finance Advisors LLC increased its position in shares of Fidelity Momentum Factor ETF by 75.6% during the fourth quarter. Farther Finance Advisors LLC now owns 4,056 shares of the company’s stock worth $341,000 after purchasing an additional 1,746 shares in the last quarter.

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.