Short Interest in Fidelity MSCI Communication Services Index ETF (NYSEARCA:FCOM) Grows By 74.9%

Fidelity MSCI Communication Services Index ETF (NYSEARCA:FCOM) was the target of a large increase in short interest in April. As of April 30th, there was short interest totaling 66,987 shares, an increase of 74.9% from the April 15th total of 38,290 shares. Based on an average trading volume of 108,129 shares, the short-interest ratio is currently 0.6 days. Approximately 0.3% of the company’s stock are sold short.

Fidelity MSCI Communication Services Index ETF Trading Up 1.2%

Shares of FCOM traded up $0.86 on Monday, reaching $74.80. 178,946 shares of the company’s stock traded hands, compared to its average volume of 147,366. The stock has a market cap of $1.77 billion, a PE ratio of 19.08 and a beta of 1.06. The stock’s 50 day simple moving average is $71.80 and its two-hundred day simple moving average is $71.99. Fidelity MSCI Communication Services Index ETF has a 52-week low of $59.12 and a 52-week high of $75.94.

Institutional Investors Weigh In On Fidelity MSCI Communication Services Index ETF

A number of hedge funds have recently made changes to their positions in FCOM. AGF Management Ltd. increased its holdings in Fidelity MSCI Communication Services Index ETF by 3.6% during the third quarter. AGF Management Ltd. now owns 654,982 shares of the company’s stock worth $46,484,000 after buying an additional 22,707 shares during the last quarter. Lido Advisors LLC boosted its stake in Fidelity MSCI Communication Services Index ETF by 10.4% in the third quarter. Lido Advisors LLC now owns 2,062,288 shares of the company’s stock valued at $146,361,000 after acquiring an additional 194,559 shares during the last quarter. Maxele Advisors LLC purchased a new position in Fidelity MSCI Communication Services Index ETF in the third quarter valued at about $1,362,000. Vicus Capital boosted its stake in Fidelity MSCI Communication Services Index ETF by 4.2% in the fourth quarter. Vicus Capital now owns 362,496 shares of the company’s stock valued at $26,564,000 after acquiring an additional 14,451 shares during the last quarter. Finally, Yoder Wealth Management Inc. boosted its stake in Fidelity MSCI Communication Services Index ETF by 17.9% in the fourth quarter. Yoder Wealth Management Inc. now owns 97,690 shares of the company’s stock valued at $7,159,000 after acquiring an additional 14,820 shares during the last quarter.

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.