Short Interest in Fidelity MSCI Financials Index ETF (NYSEARCA:FNCL) Declines By 30.1%

Fidelity MSCI Financials Index ETF (NYSEARCA:FNCL) was the recipient of a significant drop in short interest in March. As of March 13th, there was short interest totaling 51,450 shares, a drop of 30.1% from the February 26th total of 73,602 shares. Based on an average daily volume of 170,780 shares, the days-to-cover ratio is currently 0.3 days. Approximately 0.2% of the company’s shares are sold short.

Hedge Funds Weigh In On Fidelity MSCI Financials Index ETF

Several institutional investors and hedge funds have recently added to or reduced their stakes in FNCL. Creative Planning grew its stake in shares of Fidelity MSCI Financials Index ETF by 6.2% in the second quarter. Creative Planning now owns 13,595 shares of the company’s stock worth $1,007,000 after purchasing an additional 790 shares during the last quarter. Brighton Jones LLC bought a new position in Fidelity MSCI Financials Index ETF during the 3rd quarter worth $1,377,000. Vicus Capital raised its position in Fidelity MSCI Financials Index ETF by 3.6% during the 3rd quarter. Vicus Capital now owns 310,394 shares of the company’s stock worth $23,695,000 after purchasing an additional 10,742 shares during the last quarter. AE Wealth Management LLC lifted its holdings in Fidelity MSCI Financials Index ETF by 10.5% during the 3rd quarter. AE Wealth Management LLC now owns 102,508 shares of the company’s stock worth $7,825,000 after buying an additional 9,778 shares during the period. Finally, Lido Advisors LLC lifted its holdings in Fidelity MSCI Financials Index ETF by 7.8% during the 3rd quarter. Lido Advisors LLC now owns 2,704,058 shares of the company’s stock worth $206,428,000 after buying an additional 196,045 shares during the period.

Fidelity MSCI Financials Index ETF Stock Performance

Shares of Fidelity MSCI Financials Index ETF stock traded down $1.76 on Friday, hitting $67.93. The stock had a trading volume of 229,857 shares, compared to its average volume of 149,127. The stock has a 50 day moving average of $73.53 and a 200 day moving average of $75.23. Fidelity MSCI Financials Index ETF has a twelve month low of $58.68 and a twelve month high of $80.31. The firm has a market capitalization of $2.15 billion, a P/E ratio of 17.73 and a beta of 1.02.

About Fidelity MSCI Financials Index ETF

The Fidelity MSCI Financials Index ETF (FNCL) is an exchange-traded fund that is based on the MSCI USA IMI Financials 25\u002F50 index, a market-cap-weighted index of US financial companies across the entire market-cap spectrum. FNCL was launched on Oct 21, 2013 and is managed by Fidelity.