Fidelity MSCI Utilities Index ETF (NYSEARCA:FUTY) Sees Large Volume Increase – Should You Buy?

Fidelity MSCI Utilities Index ETF (NYSEARCA:FUTY) shares saw unusually-strong trading volume on Tuesday. 2,360,772 shares were traded during trading, an increase of 546% from the previous session’s volume of 365,631 shares. The stock last traded at $51.0970 and had previously closed at $50.82.

Fidelity MSCI Utilities Index ETF Stock Down 0.7%

The stock has a market capitalization of $2.10 billion, a P/E ratio of 20.34 and a beta of 0.58. The firm’s 50 day simple moving average is $55.35 and its two-hundred day simple moving average is $57.43.

Institutional Trading of Fidelity MSCI Utilities Index ETF

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Bank of America Corp DE raised its stake in Fidelity MSCI Utilities Index ETF by 0.9% during the 1st quarter. Bank of America Corp DE now owns 9,170,828 shares of the company’s stock worth $541,721,000 after buying an additional 77,710 shares during the period. Kestra Advisory Services LLC increased its holdings in shares of Fidelity MSCI Utilities Index ETF by 13.7% during the first quarter. Kestra Advisory Services LLC now owns 552,635 shares of the company’s stock valued at $32,644,000 after acquiring an additional 66,524 shares in the last quarter. Envestnet Asset Management Inc. increased its holdings in shares of Fidelity MSCI Utilities Index ETF by 21.2% during the second quarter. Envestnet Asset Management Inc. now owns 419,958 shares of the company’s stock valued at $24,534,000 after acquiring an additional 73,449 shares in the last quarter. Cetera Investment Advisers increased its holdings in shares of Fidelity MSCI Utilities Index ETF by 29.9% during the first quarter. Cetera Investment Advisers now owns 250,627 shares of the company’s stock valued at $14,805,000 after acquiring an additional 57,657 shares in the last quarter. Finally, Apollon Wealth Management LLC raised its position in shares of Fidelity MSCI Utilities Index ETF by 8.2% during the first quarter. Apollon Wealth Management LLC now owns 141,953 shares of the company’s stock worth $8,385,000 after purchasing an additional 10,770 shares during the period.

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.