Short Interest in Fidelity Disruptive Communications ETF (NASDAQ:FDCF) Increases By 607.4%

Fidelity Disruptive Communications ETF (NASDAQ:FDCF) was the target of a large growth in short interest in the month of July. As of July 31st, there was short interest totaling 9,401 shares, a growth of 607.4% from the July 15th total of 1,329 shares. Based on an average daily trading volume, of 7,529 shares, the days-to-cover ratio is presently 1.2 days. Approximately 0.5% of the company’s stock are short sold.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Key Capital Management INC bought a new stake in shares of Fidelity Disruptive Communications ETF in the 4th quarter valued at about $29,000. Advisory Services Network LLC bought a new position in shares of Fidelity Disruptive Communications ETF during the third quarter valued at approximately $59,000. VestGen Advisors LLC purchased a new position in Fidelity Disruptive Communications ETF during the fourth quarter valued at approximately $276,000. Align Financial LLC purchased a new position in Fidelity Disruptive Communications ETF during the fourth quarter valued at approximately $2,311,000. Finally, Jane Street Group LLC raised its stake in Fidelity Disruptive Communications ETF by 56.0% in the first quarter. Jane Street Group LLC now owns 95,295 shares of the company’s stock worth $3,507,000 after buying an additional 34,203 shares in the last quarter.

Fidelity Disruptive Communications ETF Trading Up 0.9%

FDCF opened at $51.67 on Friday. The company has a market capitalization of $103.34 million, a price-to-earnings ratio of 26.94 and a beta of 1.21. Fidelity Disruptive Communications ETF has a 12-month low of $41.23 and a 12-month high of $53.48. The business’s fifty day simple moving average is $49.63 and its 200-day simple moving average is $47.72.

About Fidelity Disruptive Communications ETF

The Fidelity Disruptive Communications ETF (FDCF) is an exchange-traded fund that mostly invests in stocks based on a particular theme. The fund is an actively managed fund that invests in companies tied with disruptive technologies in communications services. The fund invests in securities of domestic and foreign issuers FDCF was launched on Apr 16, 2020 and is managed by Fidelity.