Short Interest in Fidelity High Yield Factor ETF (NYSEARCA:FDHY) Grows By 190.3%

Fidelity High Yield Factor ETF (NYSEARCA:FDHY) saw a large increase in short interest during the month of July. As of July 31st, there was short interest totaling 53,302 shares, an increase of 190.3% from the July 15th total of 18,361 shares. Currently, 0.5% of the company’s shares are sold short. Based on an average daily volume of 73,606 shares, the days-to-cover ratio is currently 0.7 days.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in FDHY. Nalls Sherbakoff Group LLC acquired a new stake in Fidelity High Yield Factor ETF during the fourth quarter worth about $25,000. Arax Advisory Partners purchased a new stake in shares of Fidelity High Yield Factor ETF during the 4th quarter worth about $37,000. NewEdge Advisors LLC grew its holdings in shares of Fidelity High Yield Factor ETF by 69.1% during the 3rd quarter. NewEdge Advisors LLC now owns 1,040 shares of the company’s stock worth $51,000 after purchasing an additional 425 shares during the period. CIBC Private Wealth Group LLC purchased a new stake in shares of Fidelity High Yield Factor ETF during the 3rd quarter worth about $121,000. Finally, IFP Advisors Inc increased its position in Fidelity High Yield Factor ETF by 747.4% during the 4th quarter. IFP Advisors Inc now owns 2,932 shares of the company’s stock worth $145,000 after purchasing an additional 2,586 shares in the last quarter.

Fidelity High Yield Factor ETF Price Performance

Shares of NYSEARCA FDHY opened at $49.17 on Friday. Fidelity High Yield Factor ETF has a 52-week low of $48.00 and a 52-week high of $49.71. The firm has a fifty day moving average of $49.06 and a 200-day moving average of $49.13.

Fidelity High Yield Factor ETF Company Profile

The Fidelity High Yield Factor ETF (FDHY) is an exchange-traded fund that mostly invests in high yield fixed income. The fund is an actively managed fund using a quantitative screen to select high-yield bonds issued by US and foreign corporations. The fund seeks a high level of income, and may also seek capital appreciation. FDHY was launched on Jun 12, 2018 and is managed by Fidelity.