Fidelity Disruptive Communications ETF (NASDAQ:FDCF) experienced a significant reduction in short interest during January 2023. As of January 30, the short interest dropped to 1,687 shares, marking a substantial decline of 75.8% from the 6,974 shares reported on January 15. With an average trading volume of 12,198 shares, the current days-to-cover ratio stands at 0.1 days. This indicates that only 0.1% of the ETF’s shares are currently sold short.
Institutional Investments Shift
Recent activity among institutional investors has also influenced the fund’s landscape. Key Capital Management INC acquired a new stake in the Fidelity Disruptive Communications ETF during the fourth quarter, valued at approximately $29,000. Similarly, Raleigh Capital Management Inc. purchased shares worth around $44,000 in the same period.
In the third quarter, Advisory Services Network LLC bought a new stake valued at $59,000. Additionally, Cape Investment Advisory Inc. increased its holdings by 10.6% in the second quarter, now owning 4,432 shares valued at $197,000 after acquiring an additional 425 shares. Lastly, BXM Wealth LLC invested approximately $257,000 in the ETF during the fourth quarter.
Current Stock Performance and Overview
On Wednesday, the Fidelity Disruptive Communications ETF saw its stock trading down by $0.33, reaching $46.16 during midday trading. The trading volume for the day reached 6,296 shares, slightly below the average of 11,628 shares. Over the past year, the ETF has seen a low of $31.11 and a high of $53.48.
With a market capitalization of $101.55 million, the ETF has a price-to-earnings ratio of 26.94 and a beta of 1.19. Its fifty-day moving average stands at $47.71, while the 200-day moving average is at $47.65.
The Fidelity Disruptive Communications ETF, launched on April 16, 2020, is an actively managed exchange-traded fund primarily investing in companies associated with disruptive technologies within the communications sector. The fund encompasses securities from both domestic and foreign issuers, positioning itself as a significant player in the market.
In summary, the decline in short interest and the shift in institutional holdings reflect an evolving landscape for the Fidelity Disruptive Communications ETF, underscoring its potential as a strategic investment in the technology-driven communications sector.
