NewEdge Advisors LLC Has $976,000 Position in Fidelity Momentum Factor ETF (NYSEARCA:FDMO)

NewEdge Advisors LLC decreased its stake in Fidelity Momentum Factor ETF (NYSEARCA:FDMO) by 29.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 15,312 shares of the company’s stock after selling 6,323 shares during the period. NewEdge Advisors LLC owned about 0.47% of Fidelity Momentum Factor ETF worth $976,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in FDMO. Cullen Frost Bankers Inc. bought a new stake in shares of Fidelity Momentum Factor ETF in the second quarter worth $32,000. Sunbelt Securities Inc. acquired a new stake in shares of Fidelity Momentum Factor ETF in the first quarter valued at about $212,000. Stonehearth Capital Management LLC bought a new position in shares of Fidelity Momentum Factor ETF during the first quarter worth about $217,000. Cetera Advisors LLC acquired a new position in shares of Fidelity Momentum Factor ETF in the first quarter worth approximately $231,000. Finally, Linscomb Wealth Inc. bought a new stake in Fidelity Momentum Factor ETF in the first quarter valued at approximately $241,000.

Fidelity Momentum Factor ETF Stock Performance

Fidelity Momentum Factor ETF stock opened at $66.08 on Tuesday. The firm has a market cap of $214.76 million, a price-to-earnings ratio of 27.90 and a beta of 1.11. Fidelity Momentum Factor ETF has a 52-week low of $44.80 and a 52-week high of $66.84. The firm has a 50 day moving average price of $63.64 and a two-hundred day moving average price of $62.26.

About Fidelity Momentum Factor ETF

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.