Fidelity Disruptive Technology ETF (NASDAQ:FDTX) Sees Large Drop in Short Interest

Fidelity Disruptive Technology ETF (NASDAQ:FDTX) saw a large decline in short interest during the month of November. As of November 15th, there was short interest totalling 43,000 shares, a decline of 13.5% from the October 31st total of 49,700 shares. Based on an average daily volume of 16,500 shares, the days-to-cover ratio is currently 2.6 days.

Fidelity Disruptive Technology ETF Price Performance

FDTX stock traded up $0.02 during trading on Tuesday, reaching $36.22. 8,848 shares of the company were exchanged, compared to its average volume of 29,480. Fidelity Disruptive Technology ETF has a twelve month low of $26.48 and a twelve month high of $36.29. The company has a market capitalization of $170.23 million, a price-to-earnings ratio of 39.22 and a beta of 1.67. The company has a 50-day moving average of $34.09 and a two-hundred day moving average of $32.79.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Fidelity Disruptive Technology ETF stock. Kovack Advisors Inc. boosted its position in Fidelity Disruptive Technology ETF (NASDAQ:FDTX) by 17.4% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,125 shares of the company’s stock after purchasing an additional 1,350 shares during the period. Kovack Advisors Inc. owned 0.19% of Fidelity Disruptive Technology ETF worth $297,000 at the end of the most recent quarter.

About Fidelity Disruptive Technology ETF

The Fidelity Disruptive Technology ETF (FDTX) is an exchange-traded fund that mostly invests in stocks based on a particular theme. The fund is an actively managed fund that invests in innovative businesses believed to have the potential for market disruption. The fund holds global disruptive technology companies, from machine learning to next-generation hardware and AI.