Fidelity MSCI Communication Services Index ETF (NYSEARCA:FCOM) Sees Significant Decline in Short Interest

Fidelity MSCI Communication Services Index ETF (NYSEARCA:FCOM) saw a large drop in short interest in the month of January. As of January 15th, there was short interest totaling 25,802 shares, a drop of 47.4% from the December 31st total of 49,053 shares. Currently, 0.1% of the company’s shares are short sold. Based on an average daily trading volume, of 109,545 shares, the days-to-cover ratio is currently 0.2 days. Based on an average daily trading volume, of 109,545 shares, the days-to-cover ratio is currently 0.2 days. Currently, 0.1% of the company’s shares are short sold.

Fidelity MSCI Communication Services Index ETF Price Performance

Shares of NYSEARCA:FCOM traded down $0.36 during mid-day trading on Friday, hitting $75.45. The company had a trading volume of 107,449 shares, compared to its average volume of 209,417. Fidelity MSCI Communication Services Index ETF has a one year low of $48.96 and a one year high of $75.94. The firm has a fifty day moving average price of $73.00 and a 200 day moving average price of $70.28. The company has a market capitalization of $1.98 billion, a PE ratio of 19.08 and a beta of 1.06.

Hedge Funds Weigh In On Fidelity MSCI Communication Services Index ETF

Institutional investors and hedge funds have recently made changes to their positions in the stock. Sigma Planning Corp increased its position in Fidelity MSCI Communication Services Index ETF by 1.3% in the 4th quarter. Sigma Planning Corp now owns 12,837 shares of the company’s stock valued at $941,000 after buying an additional 166 shares in the last quarter. UBS Group AG grew its stake in Fidelity MSCI Communication Services Index ETF by 2.4% in the fourth quarter. UBS Group AG now owns 74,672 shares of the company’s stock valued at $5,472,000 after acquiring an additional 1,730 shares during the period. Live Oak Investment Partners increased its holdings in shares of Fidelity MSCI Communication Services Index ETF by 4.7% during the fourth quarter. Live Oak Investment Partners now owns 17,498 shares of the company’s stock valued at $1,282,000 after acquiring an additional 785 shares in the last quarter. Schmidt P J Investment Management Inc. bought a new stake in shares of Fidelity MSCI Communication Services Index ETF during the fourth quarter valued at approximately $296,000. Finally, EPG Wealth Management LLC raised its position in shares of Fidelity MSCI Communication Services Index ETF by 2.0% during the fourth quarter. EPG Wealth Management LLC now owns 17,227 shares of the company’s stock worth $1,262,000 after purchasing an additional 333 shares during the period.

About Fidelity MSCI Communication Services Index ETF

The Fidelity MSCI Communication Services Index ETF (FCOM) is an exchange-traded fund that mostly invests in communication services equity. The fund tracks a market-cap-weighted index of stocks in the US communication services sector. FCOM was launched on Oct 21, 2013 and is managed by Fidelity.