Fidelity MSCI Utilities Index ETF (NYSEARCA:FUTY) Shares Down 1% – Here’s Why

Fidelity MSCI Utilities Index ETF (NYSEARCA:FUTY) shares were down 1% on Monday . The company traded as low as $54.13 and last traded at $54.58. Approximately 490,289 shares were traded during mid-day trading, an increase of 40% from the average session volume of 351,155 shares. The stock had previously closed at $55.14.

Fidelity MSCI Utilities Index ETF Stock Performance

The firm has a market capitalization of $2.24 billion, a price-to-earnings ratio of 20.34 and a beta of 0.59. The firm has a fifty day moving average price of $57.53 and a 200 day moving average price of $58.43.

Hedge Funds Weigh In On Fidelity MSCI Utilities Index ETF

A number of large investors have recently made changes to their positions in the stock. Northwestern Mutual Wealth Management Co. lifted its stake in shares of Fidelity MSCI Utilities Index ETF by 1,161.7% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 643,682 shares of the company’s stock valued at $35,544,000 after purchasing an additional 592,663 shares during the period. Orion Porfolio Solutions LLC grew its position in Fidelity MSCI Utilities Index ETF by 1,318.8% during the second quarter. Orion Porfolio Solutions LLC now owns 472,118 shares of the company’s stock worth $24,833,000 after buying an additional 438,842 shares during the period. Bank of America Corp DE increased its holdings 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 buying an additional 289,161 shares in the last quarter. Retirement Management Systems Inc. purchased a new position in Fidelity MSCI Utilities Index ETF in the fourth quarter valued at about $7,033,000. Finally, Quadrature Capital Ltd acquired a new stake in shares of Fidelity MSCI Utilities Index ETF during the 4th quarter valued at approximately $5,403,000.

About Fidelity MSCI Utilities Index ETF

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.