Fidelity MSCI Utilities Index ETF (NYSEARCA:FUTY) Hits New 1-Year High – Time to Buy?

Fidelity MSCI Utilities Index ETF (NYSEARCA:FUTY) shares hit a new 52-week high during trading on Tuesday . The company traded as high as $60.71 and last traded at $60.6810, with a volume of 216241 shares trading hands. The stock had previously closed at $60.16.

Fidelity MSCI Utilities Index ETF Trading Up 1.0%

The stock has a market cap of $2.41 billion, a P/E ratio of 20.34 and a beta of 0.61. The company’s fifty day simple moving average is $56.33 and its 200-day simple moving average is $56.49.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of FUTY. Bank of America Corp DE grew its stake in Fidelity MSCI Utilities Index ETF by 3.3% in the third quarter. Bank of America Corp DE now owns 9,084,792 shares of the company’s stock valued at $513,018,000 after acquiring an additional 289,161 shares during the period. AE Wealth Management LLC boosted its stake in Fidelity MSCI Utilities Index ETF by 31.6% in the 4th quarter. AE Wealth Management LLC now owns 1,371,364 shares of the company’s stock worth $75,727,000 after purchasing an additional 329,549 shares during the period. LPL Financial LLC grew its holdings in shares of Fidelity MSCI Utilities Index ETF by 11.3% during the fourth quarter. LPL Financial LLC now owns 752,838 shares of the company’s stock worth $41,572,000 after buying an additional 76,597 shares in the last quarter. Osaic Holdings Inc. raised its holdings in shares of Fidelity MSCI Utilities Index ETF by 28.7% in the second quarter. Osaic Holdings Inc. now owns 745,001 shares of the company’s stock valued at $39,209,000 after purchasing an additional 166,037 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. lifted its position in Fidelity MSCI Utilities Index ETF by 1,161.7% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 643,682 shares of the company’s stock worth $35,544,000 after buying an additional 592,663 shares in the last quarter.

Fidelity MSCI Utilities Index ETF Company Profile

The Fidelity MSCI Utilities Index ETF (FUTY) is an exchange-traded fund that is based on the MSCI USA IMI Utilities 25\u002F50 index. The fund tracks the MSCI US IMI Utilities 25\u002F50 Index, a market-cap-weighted index of stocks in the US utilities sector. FUTY was launched on Oct 21, 2013 and is managed by Fidelity.