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

Fidelity MSCI Utilities Index ETF (NYSEARCA:FUTY) was the recipient of a significant increase in short interest in the month of April. As of April 30th, there was short interest totaling 143,881 shares, an increase of 179.3% from the April 15th total of 51,524 shares. Based on an average daily trading volume, of 418,849 shares, the short-interest ratio is currently 0.3 days. Approximately 0.4% of the shares of the stock are short sold.

Institutional Investors Weigh In On Fidelity MSCI Utilities Index ETF

Several hedge funds and other institutional investors have recently modified their holdings of FUTY. Roman Butler Fullerton & Co. bought a new position in shares of Fidelity MSCI Utilities Index ETF in the third quarter worth approximately $1,171,000. AGF Management Ltd. lifted its position in Fidelity MSCI Utilities Index ETF by 10.2% during the third quarter. AGF Management Ltd. now owns 104,371 shares of the company’s stock valued at $5,894,000 after purchasing an additional 9,652 shares during the last quarter. Apollon Wealth Management LLC grew its stake in Fidelity MSCI Utilities Index ETF by 9.0% in the 4th quarter. Apollon Wealth Management LLC now owns 131,183 shares of the company’s stock worth $7,244,000 after buying an additional 10,845 shares in the last quarter. AE Wealth Management LLC grew 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 buying an additional 329,549 shares in the last quarter. Finally, Thrivent Financial for Lutherans bought a new position in shares of Fidelity MSCI Utilities Index ETF in the 3rd quarter worth $2,632,000.

Fidelity MSCI Utilities Index ETF Price Performance

Shares of FUTY traded down $1.36 during midday trading on Friday, hitting $56.69. 386,981 shares of the company traded hands, compared to its average volume of 346,717. The stock has a 50-day moving average of $59.29 and a 200-day moving average of $57.82. Fidelity MSCI Utilities Index ETF has a one year low of $51.05 and a one year high of $61.51. The firm has a market cap of $2.31 billion, a P/E ratio of 20.34 and a beta of 0.62.

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.