Short Interest in Fidelity U.S. Multifactor ETF (NYSEARCA:FLRG) Decreases By 33.2%

Fidelity U.S. Multifactor ETF (NYSEARCA:FLRG) was the target of a large drop in short interest in January. As of January 15th, there was short interest totaling 21,357 shares, a drop of 33.2% from the December 31st total of 31,976 shares. Based on an average trading volume of 27,789 shares, the short-interest ratio is currently 0.8 days. Approximately 0.3% of the company’s stock are sold short. Approximately 0.3% of the company’s stock are sold short. Based on an average trading volume of 27,789 shares, the short-interest ratio is currently 0.8 days.

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

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Envestnet Asset Management Inc. increased its position in shares of Fidelity U.S. Multifactor ETF by 93.5% during the second quarter. Envestnet Asset Management Inc. now owns 13,597 shares of the company’s stock valued at $489,000 after acquiring an additional 6,569 shares during the last quarter. Cetera Investment Advisers boosted its position in Fidelity U.S. Multifactor ETF by 7.4% in the second quarter. Cetera Investment Advisers now owns 48,318 shares of the company’s stock worth $1,737,000 after purchasing an additional 3,326 shares during the last quarter. IFP Advisors Inc grew its stake in Fidelity U.S. Multifactor ETF by 1.1% in the 2nd quarter. IFP Advisors Inc now owns 52,331 shares of the company’s stock valued at $1,881,000 after purchasing an additional 593 shares during the period. Williams & Novak LLC purchased a new stake in shares of Fidelity U.S. Multifactor ETF during the 2nd quarter valued at $224,000. Finally, Berman McAleer LLC purchased a new stake in shares of Fidelity U.S. Multifactor ETF during the 3rd quarter valued at $10,645,000.

Fidelity U.S. Multifactor ETF Price Performance

Shares of NYSEARCA FLRG traded down $0.18 during trading on Friday, hitting $38.65. The stock had a trading volume of 34,023 shares, compared to its average volume of 24,116. The firm has a fifty day moving average of $38.30 and a two-hundred day moving average of $37.74. The company has a market capitalization of $278.28 million, a PE ratio of 20.13 and a beta of 0.87. Fidelity U.S. Multifactor ETF has a 12 month low of $28.97 and a 12 month high of $38.97.

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.