Stock Analysis
Data Source: SEC EDGAR 13F
Updated Hourly

Fidelity Covington Trust (FDIG)

42 + Investors. Track Smart Money conviction in FDIG. See who's accumulating, reducing, or initiating positions.

Current Price
-- USD
Analyst Target
-- (0 analysts)
Upside
0.00%
Net Flow Q/Q
↓ -6
Streak
1Q ▼
Buyers last Q
46%

Smart Money Signals — FDIG

Based on 42 hedge funds · latest filing: 2026 Q1 · updated quarterly

📉

Selling streak — 1 quarter in a row

last 6Q
For 1 consecutive quarter, more hedge funds reduced or closed their FDIG positions than added to them. Sustained institutional selling is a meaningful warning sign — these are professionals with deep research teams collectively deciding to exit.
📊

High ownership — 88% of 3.0Y peak

88% of all-time peak
42 funds currently hold this stock — 88% of the 3.0-year high of 48 funds (reached 2025 Q4). Ownership is elevated but not yet at maximum concentration. Room to grow, but watch if the trend reverses.
🚀

Fast accumulation — +62% more funds vs a year ago

fund count last 6Q
+16 new funds entered over the past year (+62% YoY). That's a rapid rush of institutional money. Fast accumulation often signals a major thesis — but it also means the stock could fall quickly if that thesis breaks.
🟠

More sellers than buyers — 46% buying

19 buying22 selling
Last quarter: 22 funds reduced or exited vs 19 that bought or added. When more than half of active funds are selling, it's a caution flag — especially if the stock price hasn't moved down yet.
⚠️

Fewer new buyers each quarter (-11 vs last Q)

new funds entering per quarter
Funds opening this position for the first time: 13 → 12 → 16 → 5. Each quarter fewer new institutions are entering. This usually means most funds that wanted in are already in — the stock is well-known but the pool of potential new buyers is shrinking.
🔄

Mostly new holders — 36% entered in last year

■ 19% conviction (2yr+) ■ 45% medium ■ 36% new
Only 8 funds (19%) have held >2 years. The majority of current holders are relatively new to the position. New holders tend to sell faster when prices drop — a shallow conviction base that could amplify any sell-off.
📊

Peak discovery — momentum slowing

8 → 13 → 12 → 16 → 5 new funds/Q
New funds entering each quarter: 13 → 12 → 16 → 5. FDIG is well-known in the hedge fund world, but fresh entries are gradually declining. The explosive phase of institutional discovery is likely behind us.
📊

Mixed cohorts — 31% veterans, 45% new entrants

■ 31% veterans ■ 24% 1-2yr ■ 45% new
Of 42 current holders: 13 (31%) held 2+ years, 10 held 1–2 years, 19 (45%) entered in the past year. Balanced distribution — some institutional memory, some recent momentum buyers.
🏆

Elite ownership — 42% AUM from top-100 funds

42% from top-100 AUM funds
12 of 41 holders are among the 100 largest funds by AUM, controlling 42% of total institutional value in FDIG. When the biggest players dominate the cap table, it signifies deep institutional support — since mega-funds deploy the most rigorous due diligence and capital.
4.2
out of 10
Moderate Exit Risk
Exit risk score 4.2/10 — some crowding factors present, but no critical concentration. Watch ownership trend over the next 1–2 quarters for direction.

Methodology note: these Smart Money cards use consecutive 13F disclosure snapshots, not trade-by-trade execution data. "Buying", "selling", "new holders", and "trimmed" refer to quarter-over-quarter changes in reported holders, aggregate shares, or disclosed position values between filings. They are useful for ownership regime analysis and crowding, but they do not imply exact trade timing on the filing date.

Institutional Sentiment Summary — FDIG

In 2026 Q1, 19 hedge funds were net buyers of FDIG (5 opened a new position, 14 added to an existing one), while 22 reduced or exited (11 trimmed, 11 sold completely) — a 46% buyer ratio, indicating roughly balanced activity. 42% of total institutional value in FDIG is held by top-100 AUM funds, reflecting elite-tier ownership quality. Net fund flow last quarter: -6 funds (more exits than new entries). Total institutional holders: 42.

Hedge Fund Ownership: FDIG

How many hedge funds hold FDIG — quarterly history vs. share price
Quarterly hedge fund ownership of FDIG vs. share price

Market Analysis: FDIG

Analyst Price Targets

Avg. Price Target
--

Analyst Recommendations

Stock Performance

Real-time

Company Profile: FDIG

-- --

Institutional ownership data sourced from SEC EDGAR Form 13F-HR filings.

Is It Too Late to Buy Fidelity Covington Trust (FDIG) Based on Hedge Fund 13F Filings?

Signal Freshness measures how much FDIG has moved relative to its sector benchmark (SPY) since the 2026 Q1 13F filing. A stock that has barely outrun its sector is still a relatively fresh entry point — the fund's thesis has not yet been priced in by the broader market.

Since Quarter End March 31, 2026 · 81d ago
FDIG
nan%
SPY
+15.1%

FDIG outperformed SPY by nan% since March 31, 2026.

Since 13F Filing Date May 15, 2026 · 36d ago
FDIG
nan%
SPY
+1.3%

Since the filing became public, FDIG outperformed SPY by nan% .

Interpretation: The stock is tracking its sector benchmark closely. The signal remains fresh and the entry point is still near the fund's implied reference. Learn more →

Smart Money Signal ?
Limited Smart Money Interest

No strong consensus or elite conviction detected among institutional holders.

2 top-rated funds 0 high-conviction
Consensus
2.1
/ 10
breadth
×
Elite
0.0
/ 10
conviction
Hedge Fund Positioning: FDIG
42 + Investors

Track Smart Money conviction in FDIG. See who's accumulating, reducing, or initiating positions.

Metric All 13F Filers (2026 Q1) Prior (2025 Q4) Change
Funds Holding 42 48 -12.5%
13F Shares 562K 660K -14.81%
Total Value $18M $26M -28.69%
New Positions 5 16 -11
Increased Positions 13 15 -2
Closed Positions 11 5 +6
Reduced Positions 11 10 +1
Total Calls 0 1 -100.0%
Total Puts 0 0 -
PUT/CALL Ratio 0.0 0.0 Bullish

Statistics: FDIG

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Financial Highlights

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Institutional Holders (2026 Q1)

42 + investors

Explore institutional interest and hedge fund ownership dynamics. Analyze portfolio weights, new positions, and conviction trends in FDIG. Verified SEC 13F-HR filings.

QUARTER:
Top 25 FDIG holders by conviction (% of portfolio weight) — 2026 Q1 · Source: SEC Form 13F
# Investor % of Portfolio Shares Mkt Value
1 Prairie Wealth Advisors, Inc. 0.20% — $462K
2 Sterling Investment Advisors, Ltd. 0.07% 11,185 $367K
3 Cyndeo Wealth Partners, LLC 0.05% 26,300 $862K
4 Birchwood Financial Partners, Inc. 0.03% 880 $29K
5 Traynor Capital Management, Inc. 0.02% 12,789 $396K
6 Glass Jacobson Investment Advisors llc 0.02% 1,854 $61K
7 Gts Securities LLC 0.01% 10,473 $343K
8 Sunbelt Securities, Inc. 0.01% 5,041 $165K
9 Savvy Advisors, Inc. 0.01% 10,021 $328K
10 Financial Engines Advisors L.L.C. 0.01% 100,758 $3.3M
11 Kestra Advisory Services, LLC 0.01% 45,445 $1.5M
12 Barrett & Company, INC. 0.01% 450 $15K
13 AE Wealth Management LLC 0.01% 28,355 $929K
14 Roxbury Financial LLC 0.00% 82 $3K
15 Manchester Capital Management LLC 0.00% 500 $16K
16 Mariner, LLC 0.00% 38,823 $1.3M
17 Advisory Services Network, LLC 0.00% 2,999 $98K
18 Commonwealth Equity Services, LLC 0.00% 20,101 $659K
19 Aptus Capital Advisors, LLC 0.00% 1,513 $50K
20 SHP Wealth Management 0.00% 155 $5K
21 Jane Street Group, LLC 0.00% 80,360 $2.6M
22 JNBA Financial Advisors 0.00% 121 $4K
23 Bank of America Corp /de/ 0.00% 77,797 $2.6M
24 Allworth Financial LP 0.00% 1,300 $43K
25 Citadel Advisors LLC 0.00% 29,106 $954K
Investor Ownership
History 		% of Portfolio Prev % Rank Conviction Avg Buy Price 13F Score™ 3Y / 7Y Sell Timing Shares Mkt Value Change Change % Source Quarter Filed

Frequently Asked Questions — Fidelity Covington Trust (FDIG)

What does the Smart Money Trend signal show for FDIG?

Selling streak — 1 quarter in a row: For 1 consecutive quarter, more hedge funds reduced or closed their FDIG positions than added to them. Sustained institutional selling is a meaningful warning sign — these are professionals with deep research teams collectively deciding to exit.

What is the institutional breadth score for FDIG?

More sellers than buyers — 46% buying: Last quarter: 22 funds reduced or exited vs 19 that bought or added. When more than half of active funds are selling, it's a caution flag — especially if the stock price hasn't moved down yet.

What is the fund quality score for FDIG holders?

Elite ownership — 42% AUM from top-100 funds: 12 of 41 holders are among the 100 largest funds by AUM, controlling 42% of total institutional value in FDIG. When the biggest players dominate the cap table, it signifies deep institutional support — since mega-funds deploy the most rigorous due diligence and capital.

How long have hedge funds held FDIG?

Mostly new holders — 36% entered in last year: Only 8 funds (19%) have held >2 years. The majority of current holders are relatively new to the position. New holders tend to sell faster when prices drop — a shallow conviction base that could amplify any sell-off.

Is it too late to buy Fidelity Covington Trust (FDIG) following the 2026 Q1 hedge fund 13F filings?

As of today, FDIG has moved nan% since the 2026 Q1 13F filing date (May 15, 2026), compared to +1.3% for the SPY sector ETF — an outperformance of nan%. Since the quarter end (March 31, 2026), FDIG has gained nan% vs +15.1% for SPY. The stock is tracking its sector benchmark closely. The signal remains fresh and the entry point is still near the fund's implied reference.

Where does this institutional ownership data come from?

All holdings data is sourced from SEC Form 13F filings, which institutional investment managers with over $100 million in assets are required to submit quarterly. Data is parsed directly from SEC EDGAR.

Disclaimer: The information on this page is for informational purposes only and does not constitute investment advice, a recommendation, or an offer to buy or sell any security. Institutional holdings data is sourced from SEC Form 13F filings and reflects positions as of the filing date. Past performance of any fund or portfolio is not indicative of future results. 13Foresight is not a registered investment adviser. Always conduct your own due diligence before making investment decisions.

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