Fidelity MSCI Utilities Index ETF (NYSEARCA:FUTY) Sees Large Decrease in Short Interest

Fidelity MSCI Utilities Index ETF (NYSEARCA:FUTY) was the recipient of a significant drop in short interest in the month of September. As of September 30th, there was short interest totaling 101,368 shares, a drop of 93.3% from the September 15th total of 1,522,365 shares. Based on an average daily volume of 905,342 shares, the days-to-cover ratio is currently 0.1 days. Approximately 0.2% of the shares of the company are short sold.

Fidelity MSCI Utilities Index ETF Stock Up 0.8%

NYSEARCA:FUTY traded up $0.43 during midday trading on Friday, reaching $53.47. The stock had a trading volume of 356,808 shares, compared to its average volume of 401,155. The firm has a fifty day simple moving average of $54.52 and a two-hundred day simple moving average of $57.09. Fidelity MSCI Utilities Index ETF has a 12-month low of $50.53 and a 12-month high of $61.51. The stock has a market cap of $2.20 billion, a P/E ratio of 20.34 and a beta of 0.57.

Institutional Trading of Fidelity MSCI Utilities Index ETF

Hedge funds and other institutional investors have recently made changes to their positions in the company. Smith Salley Wealth Management increased its holdings in shares of Fidelity MSCI Utilities Index ETF by 1.3% in the 1st quarter. Smith Salley Wealth Management now owns 13,635 shares of the company’s stock valued at $805,000 after purchasing an additional 170 shares in the last quarter. Global Financial Private Client LLC boosted its holdings in Fidelity MSCI Utilities Index ETF by 1.9% during the first quarter. Global Financial Private Client LLC now owns 11,180 shares of the company’s stock worth $660,000 after buying an additional 209 shares in the last quarter. D.A. Davidson & CO. grew its position in Fidelity MSCI Utilities Index ETF by 4.5% during the first quarter. D.A. Davidson & CO. now owns 5,400 shares of the company’s stock worth $319,000 after buying an additional 233 shares during the period. Valmark Advisers Inc. grew its position in Fidelity MSCI Utilities Index ETF by 0.3% during the first quarter. Valmark Advisers Inc. now owns 91,376 shares of the company’s stock worth $5,398,000 after buying an additional 241 shares during the period. Finally, Kestra Private Wealth Services LLC grew its position in Fidelity MSCI Utilities Index ETF by 5.5% during the first quarter. Kestra Private Wealth Services LLC now owns 4,707 shares of the company’s stock worth $278,000 after buying an additional 245 shares during the period.

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.