The Fidelity Momentum Factor ETF (FDMO) experienced a significant $121.8 million outflow this week, representing an 11.9% decrease in shares outstanding, from 10,900,000 to 9,600,000. This notable movement occurred amid a notable dip for one of its key holdings, Ciena Corp (CIEN), which fell approximately 11.3%.
FDMO’s current trading price stands at $93.81, with a one-year range of $76.63 to $98.87, currently below its 200-day moving average. This outflow indicates a shift in investor sentiment and may impact the underlying assets held by the ETF.
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