Fidelity Momentum Factor ETF (NYSEARCA:FDMO) Shares Shorted: Short Interest Up 935.1% in October

Fidelity Momentum Factor ETF (NYSEARCA:FDMO) was the recipient of a significant growth in short interest in October. As of October 15th, there was short interest totaling 38,133 shares, a growth of 935.1% from the September 30th total of 3,684 shares. Based on an average trading volume of 45,457 shares, the days-to-cover ratio is presently 0.8 days. Approximately 0.4% of the shares of the company are sold short.

Fidelity Momentum Factor ETF Price Performance

FDMO stock traded up $1.23 during trading hours on Tuesday, reaching $92.20. The stock had a trading volume of 7,514 shares, compared to its average volume of 66,554. The stock has a 50-day simple moving average of $94.61 and a 200 day simple moving average of $90.67. Fidelity Momentum Factor ETF has a fifty-two week low of $76.63 and a fifty-two week high of $98.87. The stock has a market capitalization of $848.24 million, a PE ratio of 28.38 and a beta of 1.05.

Institutional Investors Weigh In On Fidelity Momentum Factor ETF

Several hedge funds have recently bought and sold shares of FDMO. Envestnet Asset Management Inc. increased its position in Fidelity Momentum Factor ETF by 3.4% during the second quarter. Envestnet Asset Management Inc. now owns 1,463,420 shares of the company’s stock worth $144,249,000 after buying an additional 48,587 shares during the last quarter. Kestra Advisory Services LLC lifted its position in shares of Fidelity Momentum Factor ETF by 258.0% in the first quarter. Kestra Advisory Services LLC now owns 209,587 shares of the company’s stock valued at $16,788,000 after buying an additional 151,049 shares during the last quarter. Cetera Investment Advisers boosted its position in Fidelity Momentum Factor ETF by 5.4% during the first quarter. Cetera Investment Advisers now owns 205,666 shares of the company’s stock worth $16,474,000 after purchasing an additional 10,603 shares during the period. Mosley Wealth Management boosted its holdings in shares of Fidelity Momentum Factor ETF by 4.5% during the 3rd quarter. Mosley Wealth Management now owns 90,977 shares of the company’s stock worth $8,488,000 after buying an additional 3,914 shares during the period. Finally, B. Riley Wealth Advisors Inc. acquired a new position in shares of Fidelity Momentum Factor ETF in the third quarter valued at approximately $8,627,000.

Fidelity Momentum Factor ETF Company Profile

The Fidelity Momentum Factor ETF (FDMO) is an exchange-traded fund that is based on the Fidelity U.S. Momentum Factor index. The fund tracks an index large-cap US stocks selected for positive momentum signals. FDMO was launched on Sep 12, 2016 and is managed by Fidelity.