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

by · The Cerbat Gem

Fidelity MSCI Utilities Index ETF (NYSEARCA:FUTY – Get Free Report) saw a large drop in short interest during the month of June. As of June 30th, there was short interest totaling 42,901 shares, a drop of 44.4% from the June 15th total of 77,208 shares. Approximately 0.1% of the shares of the company are sold short. Based on an average daily trading volume, of 331,434 shares, the days-to-cover ratio is presently 0.1 days.

Fidelity MSCI Utilities Index ETF Stock Performance

Shares of FUTY stock traded up $0.28 during midday trading on Thursday, hitting $58.66. 292,205 shares of the company were exchanged, compared to its average volume of 337,390. Fidelity MSCI Utilities Index ETF has a 52 week low of $52.75 and a 52 week high of $61.51. The firm has a market capitalization of $2.37 billion, a P/E ratio of 20.34 and a beta of 0.59. The firm’s 50 day moving average price is $57.95 and its two-hundred day moving average price is $58.17.

Institutional Investors Weigh In On Fidelity MSCI Utilities Index ETF

A number of institutional investors have recently made changes to their positions in FUTY. Qube Research & Technologies Ltd bought a new position in shares of Fidelity MSCI Utilities Index ETF during the second quarter worth approximately $147,000. NewEdge Advisors LLC boosted its stake in Fidelity MSCI Utilities Index ETF by 1.8% in the 2nd quarter. NewEdge Advisors LLC now owns 64,625 shares of the company’s stock valued at $3,399,000 after purchasing an additional 1,159 shares during the period. Ameriprise Financial Inc. boosted its stake in Fidelity MSCI Utilities Index ETF by 4.5% in the 2nd quarter. Ameriprise Financial Inc. now owns 77,542 shares of the company’s stock valued at $4,079,000 after purchasing an additional 3,358 shares during the period. Bank of America Corp DE grew its holdings in Fidelity MSCI Utilities Index ETF by 2.0% in the 2nd quarter. Bank of America Corp DE now owns 8,795,631 shares of the company’s stock valued at $462,650,000 after buying an additional 171,754 shares in the last quarter. Finally, BNP Paribas Financial Markets acquired a new position in Fidelity MSCI Utilities Index ETF in the 2nd quarter valued at $2,630,000.

Fidelity MSCI Utilities Index ETF Company Profile

(Get Free Report)

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.

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