Fidelity Enhanced Mid Cap ETF (NYSEARCA:FMDE) Stock Short Interest Jumps 208.8%

Fidelity Enhanced Mid Cap ETF (NYSEARCA:FMDE) was the target of a significant increase in short interest in the month of October. As of October 30th, there was short interest totaling 206,036 shares, an increase of 208.8% from the October 15th total of 66,721 shares. Currently, 0.1% of the shares of the stock are short sold. Based on an average daily volume of 950,781 shares, the days-to-cover ratio is currently 0.2 days.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of FMDE. Commonwealth Equity Services LLC bought a new stake in Fidelity Enhanced Mid Cap ETF during the third quarter valued at about $197,339,000. Citadel Advisors LLC purchased a new position in shares of Fidelity Enhanced Mid Cap ETF in the second quarter valued at about $118,748,000. Cetera Investment Advisers lifted its position in shares of Fidelity Enhanced Mid Cap ETF by 24.3% in the first quarter. Cetera Investment Advisers now owns 2,043,214 shares of the company’s stock valued at $73,474,000 after acquiring an additional 398,833 shares in the last quarter. Envestnet Asset Management Inc. boosted its stake in shares of Fidelity Enhanced Mid Cap ETF by 9.5% in the second quarter. Envestnet Asset Management Inc. now owns 1,983,161 shares of the company’s stock worth $80,477,000 after acquiring an additional 171,715 shares during the period. Finally, Kestra Advisory Services LLC boosted its stake in shares of Fidelity Enhanced Mid Cap ETF by 11.4% in the third quarter. Kestra Advisory Services LLC now owns 1,887,639 shares of the company’s stock worth $76,223,000 after acquiring an additional 192,892 shares during the period.

Fidelity Enhanced Mid Cap ETF Stock Performance

Shares of NYSEARCA FMDE traded up $0.01 during midday trading on Friday, reaching $41.91. The stock had a trading volume of 914,021 shares, compared to its average volume of 951,073. The stock has a 50-day moving average of $41.32 and a 200-day moving average of $39.64. The company has a market capitalization of $8.85 billion, a price-to-earnings ratio of 18.66 and a beta of 0.90. Fidelity Enhanced Mid Cap ETF has a 12-month low of $34.33 and a 12-month high of $42.97.

About Fidelity Enhanced Mid Cap ETF

The Fidelity Enhanced Mid Cap ETF (FMDE) is an exchange-traded fund that mostly invests in mid cap equity. The fund is an actively managed fund that invests in US, mid-cap companies. Stock selection is based on computer-aided analysis, which chooses stocks belonging to the Russel Midcap Index. FMDE was launched on Dec 20, 2007 and is issued by Fidelity.