The short interest in the Fidelity Municipal Bond Opportunities ETF (NASDAQ: FMUB) experienced a notable decline in December. As of December 31, 2023, the ETF reported a short interest of 3,745 shares, representing a significant drop of 68.8% from the December 15 total of 12,006 shares. This figure indicates that approximately 0.1% of the ETF’s total stock is currently short sold. Given the average daily trading volume of 18,118 shares, the short-interest ratio now stands at 0.2 days.
Institutional Investor Activity
Several institutional investors and hedge funds have made strategic changes to their holdings in the Fidelity Municipal Bond Opportunities ETF. CWM LLC increased its position by 18.3% during the third quarter, acquiring an additional 152,100 shares for a total of 983,758 shares valued at approximately **$50,034,000**. In the same period, Accredited Wealth Management LLC entered a new position worth **$6,550,000**, while Commonwealth Equity Services LLC acquired shares valued at **$5,921,000**.
Additionally, Jane Street Group LLC bought a new stake in the ETF during the second quarter, valued at around **$1,093,000**. Advisory Services Network LLC also established a new position in the third quarter, amounting to about **$1,118,000**.
Performance and Market Insights
On January 2, 2024, the Fidelity Municipal Bond Opportunities ETF saw its stock price rise by **$0.05**, reaching **$51.26**. The trading volume for the day was 13,675 shares, which is below the ETF’s average volume of 21,723 shares. The ETF has recorded a fifty-day moving average price of **$51.10** and a 200-day moving average price of **$50.62**. Over the past year, the ETF has reached a low of **$47.81** and a high of **$53.88**.
The Fidelity Municipal Bond Opportunities ETF aims to deliver a high current yield that is exempt from federal income tax, while capital growth serves as a secondary objective. The fund typically invests at least 80% of its assets in municipal securities, ensuring that the interest earned is exempt from federal income tax.
Investors interested in receiving updates on the Fidelity Municipal Bond Opportunities ETF can subscribe to daily newsletters that provide concise summaries of the latest news and analysts’ ratings related to the ETF and similar investment opportunities.
