Fidelity High Yield Factor ETF (NYSEARCA:FDHY) Sees Significant Growth in Short Interest

Fidelity High Yield Factor ETF (NYSEARCA:FDHY) was the recipient of a large growth in short interest in April. As of April 30th, there was short interest totaling 15,242 shares, a growth of 602.7% from the April 15th total of 2,169 shares. Based on an average daily trading volume, of 66,045 shares, the days-to-cover ratio is currently 0.2 days. Approximately 0.1% of the company’s stock are short sold.

Fidelity High Yield Factor ETF Stock Down 0.3%

Shares of NYSEARCA:FDHY traded down $0.13 during trading on Tuesday, hitting $49.10. 42,077 shares of the company were exchanged, compared to its average volume of 80,741. Fidelity High Yield Factor ETF has a fifty-two week low of $47.98 and a fifty-two week high of $49.71. The firm has a fifty day moving average price of $49.02 and a two-hundred day moving average price of $49.24.

Hedge Funds Weigh In On Fidelity High Yield Factor ETF

Several large investors have recently modified their holdings of FDHY. Nalls Sherbakoff Group LLC acquired a new position in Fidelity High Yield Factor ETF in the 4th quarter valued at about $25,000. Arax Advisory Partners bought a new position in shares of Fidelity High Yield Factor ETF during the fourth quarter worth approximately $37,000. NewEdge Advisors LLC lifted its holdings in 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 last quarter. CIBC Private Wealth Group LLC bought a new stake in Fidelity High Yield Factor ETF in the 3rd quarter valued at $121,000. Finally, IFP Advisors Inc grew its holdings in Fidelity High Yield Factor ETF by 747.4% in the 4th quarter. IFP Advisors Inc now owns 2,932 shares of the company’s stock valued at $145,000 after buying an additional 2,586 shares in the last quarter.

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.