Fidelity Quality Factor ETF (NYSEARCA:FQAL) Sees Large Growth in Short Interest

Fidelity Quality Factor ETF (NYSEARCA:FQAL) was the target of a large growth in short interest in the month of October. As of October 15th, there was short interest totaling 148,796 shares, a growth of 4,353.6% from the September 30th total of 3,341 shares. Currently, 0.9% of the company’s shares are short sold. Based on an average trading volume of 63,656 shares, the short-interest ratio is currently 2.3 days.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Assetmark Inc. boosted its position in Fidelity Quality Factor ETF by 120.7% in the 1st quarter. Assetmark Inc. now owns 587 shares of the company’s stock valued at $43,000 after buying an additional 321 shares during the period. Western Wealth Management LLC purchased a new stake in shares of Fidelity Quality Factor ETF in the 1st quarter valued at approximately $46,000. Royal Bank of Canada increased its position in shares of Fidelity Quality Factor ETF by 11.7% in the 1st quarter. Royal Bank of Canada now owns 2,782 shares of the company’s stock valued at $202,000 after purchasing an additional 292 shares during the last quarter. Bryant Woods Investment Advisors LLC acquired a new stake in shares of Fidelity Quality Factor ETF in the 1st quarter valued at $277,000. Finally, Colony Family Offices LLC raised its holdings in shares of Fidelity Quality Factor ETF by 6.2% in the 3rd quarter. Colony Family Offices LLC now owns 3,735 shares of the company’s stock valued at $311,000 after purchasing an additional 217 shares in the last quarter.

Fidelity Quality Factor ETF Price Performance

Shares of FQAL stock traded up $0.47 during trading hours on Monday, hitting $84.44. The company had a trading volume of 305,115 shares, compared to its average volume of 56,776. The company’s fifty day moving average is $84.26 and its 200 day moving average is $81.81. Fidelity Quality Factor ETF has a fifty-two week low of $70.44 and a fifty-two week high of $85.56. The stock has a market capitalization of $1.44 billion, a PE ratio of 25.46 and a beta of 0.94.

About Fidelity Quality Factor ETF

The Fidelity Quality Factor ETF (FQAL) is an exchange-traded fund that is based on the Fidelity U.S. Quality Factor index. The fund tracks an index of fundamentally- selected large and mid- cap US companies that are weighted according to a tiered scheme. FQAL was launched on Sep 12, 2016 and is managed by Fidelity.