Raymond James Financial Inc. Makes New Investment in Fidelity Momentum Factor ETF (NYSEARCA:FDMO)

Raymond James Financial Inc. acquired a new position in shares of Fidelity Momentum Factor ETF (NYSEARCA:FDMO) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 103,767 shares of the company’s stock, valued at approximately $7,223,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. IFP Advisors Inc bought a new position in Fidelity Momentum Factor ETF during the fourth quarter worth about $51,000. Kestra Investment Management LLC acquired a new position in shares of Fidelity Momentum Factor ETF during the 4th quarter worth approximately $155,000. Capital Investment Counsel Inc bought a new position in shares of Fidelity Momentum Factor ETF during the fourth quarter worth approximately $164,000. Cullen Frost Bankers Inc. raised its position in shares of Fidelity Momentum Factor ETF by 130.2% in the fourth quarter. Cullen Frost Bankers Inc. now owns 2,744 shares of the company’s stock valued at $191,000 after buying an additional 1,552 shares in the last quarter. Finally, Keystone Wealth Services LLC acquired a new stake in shares of Fidelity Momentum Factor ETF in the fourth quarter valued at approximately $226,000.

Fidelity Momentum Factor ETF Price Performance

Shares of NYSEARCA:FDMO opened at $66.08 on Monday. The business’s 50 day simple moving average is $70.30 and its 200 day simple moving average is $69.29. Fidelity Momentum Factor ETF has a 1 year low of $56.22 and a 1 year high of $74.53. The company has a market capitalization of $518.73 million, a P/E ratio of 25.93 and a beta of 1.01.

Fidelity Momentum Factor ETF 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.