The Fidelity Disruptive Finance ETF (NASDAQ: FDFF) reported a significant decrease in short interest as of January 15, 2024. The total short interest fell to just 166 shares, marking a sharp decline of 52.3% from the previous total of 348 shares recorded on December 31, 2023. With an average trading volume of 3,625 shares, this results in a days-to-cover ratio of 0.0 days, indicating that 0.0% of the ETF’s shares are currently short sold.
Changes in Institutional Ownership
Recent activity among institutional investors suggests a growing interest in the Fidelity Disruptive Finance ETF. During the fourth quarter, Key Capital Management INC acquired a new position in FDFF valued at $25,000. Similarly, Raleigh Capital Management Inc. also invested by purchasing shares worth approximately $39,000. In a notable increase, Osaic Holdings Inc. raised its stake in the ETF by 443.5% during the second quarter, bringing its total holdings to 1,087 shares valued at $42,000 after adding 887 shares in the latest quarter.
Additionally, Virtu Financial LLC made a significant investment valued at about $263,000 in the third quarter. Furthermore, AE Wealth Management LLC purchased a new stake during the second quarter for approximately $381,000.
Current Stock Performance
In trading on Friday, shares of the Fidelity Disruptive Finance ETF experienced a decline, dropping $0.66 to $34.96. The trading volume for the day reached 2,456 shares, compared to the ETF’s average volume of 3,523 shares. Over the past year, FDFF has seen a low of $29.92 and a high of $39.70. The ETF currently boasts a market capitalization of $45.45 million, a price-to-earnings (P/E) ratio of 24.27, and a beta of 1.32. Its 50-day moving average stands at $35.70, while the 200-day moving average is at $36.34.
The Fidelity Disruptive Finance ETF, launched on April 16, 2020, focuses on actively managed investments in companies that are pushing for innovations in the finance sector. This ETF aims to capture the transformative potential of organizations that are reshaping how financial products and services are delivered.
As market dynamics evolve, the changes in short interest and institutional investments will be crucial indicators of investor sentiment and potential future performance for the Fidelity Disruptive Finance ETF.
