(FFSM) Fidelity Small-Mid Cap - Ratings and Ratios

Fidelity Small-Mid Cap Opportunities ETF (FFSM) is an actively managed exchange-traded fund that leverages an SEC exemptive order to maintain a level of portfolio opacity, not disclosing its full holdings daily. This fund focuses on investing at least 80% of its assets in equities of companies characterized by small to medium market capitalizations, akin to those found in the Russell 2500 Index, thereby targeting a specific segment of the market for potential growth.

The investment strategy encompasses both domestic and foreign issuers, providing a diversified geographical exposure. Being categorized as a non-diversified fund, FFSM has the flexibility to allocate its investments in a manner that may result in a higher concentration in specific securities, potentially amplifying both gains and risks.

Analyzing the technical data, we observe that FFSMs last price is $25.31, indicating a recent upward trend as it is above both its 20-day Simple Moving Average (SMA20) of $24.26 and 50-day Simple Moving Average (SMA50) of $24.85. However, it is below its 200-day Simple Moving Average (SMA200) of $26.71, suggesting a longer-term downtrend. The Average True Range (ATR) is $0.78, or 3.10%, indicating moderate volatility. The fund has traded within a 52-week range of $22.11 to $29.39, showing its resilience and potential for growth within the sector.

From a fundamental perspective, FFSMs Assets Under Management (AUM) stand at $635.20 million, reflecting a considerable presence in the ETF market. Given its categorization within the Mid-Cap Blend ETF category and its investment strategy, the fund is poised to capitalize on the growth potential of smaller to medium-sized companies.

Forecasting FFSMs performance involves integrating both technical and fundamental insights. Given its current technical indicators and the overall market conditions, a potential short-term target could be a move towards the 52-week high of $29.39, driven by its upward trend relative to its short-term moving averages. However, caution is warranted due to its position below the SMA200, indicating a potential resistance level that needs to be overcome for a sustained uptrend. Fundamentally, the funds focus on small to mid-cap companies, which are often more agile and poised for growth, coupled with its diversified investment approach, positions it favorably for potential long-term gains. Thus, a forecast of moderate growth in the short term, with a potential breakout beyond $29.39, seems plausible, contingent upon favorable market conditions and the funds continued effective management.