The short interest in the Fidelity Disruptive Medicine ETF (NASDAQ:FMED) experienced a significant decline in December 2023. As of December 15, short interest totaled 2,524 shares, marking a drop of 71.7% from the previous total of 8,926 shares recorded on November 30. With an average daily trading volume of 7,740 shares, the current short-interest ratio stands at 0.3 days. Only 0.1% of the fund’s shares are currently sold short.
Institutional Trading Activity
Recent disclosures indicate increased institutional interest in the fund. Jane Street Group LLC raised its stake in the Fidelity Disruptive Medicine ETF by 0.8% during the first quarter. The hedge fund acquired an additional 499 shares, bringing its total holdings to 66,382 shares. As of its latest filing with the Securities and Exchange Commission, Jane Street Group LLC holds 3.16% of FMED, valued at approximately $1,567,000.
Price Performance Insights
On December 15, shares of the Fidelity Disruptive Medicine ETF traded down by $0.15, closing at $27.46. During the trading session, 3,658 shares changed hands, compared to an average volume of 5,543 shares. The ETF has a market capitalization of $60.41 million, a price-to-earnings (P/E) ratio of 41.33, and a beta of 1.00. Its fifty-day moving average price is $27.28, while the two-hundred-day average stands at $25.34. Over the past year, the ETF has fluctuated between a low of $20.69 and a high of $29.07.
The Fidelity Disruptive Medicine ETF, launched on April 16, 2020, primarily invests in healthcare equity, targeting companies engaged in disruptive innovation within the sector. The fund is actively managed and encompasses securities from both domestic and foreign issuers.
With these developments, investors will likely keep a close watch on the Fidelity Disruptive Medicine ETF as it navigates the evolving landscape of healthcare investments.
