Fidelity MSCI Real Estate Index ETF (NYSEARCA:FREL) Sees Large Drop in Short Interest
by Sarita Garza · The Markets DailyFidelity MSCI Real Estate Index ETF (NYSEARCA:FREL – Get Free Report) saw a significant drop in short interest in July. As of July 15th, there was short interest totaling 13,558 shares, a drop of 90.5% from the June 30th total of 142,215 shares. Approximately 0.0% of the company’s shares are short sold. Based on an average daily volume of 268,836 shares, the days-to-cover ratio is presently 0.1 days.
Fidelity MSCI Real Estate Index ETF Trading Up 2.1%
Shares of FREL stock traded up $0.62 on Friday, hitting $30.59. The stock had a trading volume of 300,638 shares, compared to its average volume of 346,043. Fidelity MSCI Real Estate Index ETF has a twelve month low of $26.37 and a twelve month high of $30.72. The company has a fifty day moving average price of $29.48 and a two-hundred day moving average price of $28.60. The firm has a market cap of $1.53 billion, a P/E ratio of 34.96 and a beta of 0.98.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently added to or reduced their stakes in FREL. Bank of America Corp DE increased its holdings in shares of Fidelity MSCI Real Estate Index ETF by 25,321.8% in the first quarter. Bank of America Corp DE now owns 10,268,643 shares of the company’s stock worth $276,329,000 after acquiring an additional 10,228,250 shares in the last quarter. AE Wealth Management LLC lifted its holdings in shares of Fidelity MSCI Real Estate Index ETF by 30.8% during the 4th quarter. AE Wealth Management LLC now owns 1,614,618 shares of the company’s stock valued at $43,417,000 after purchasing an additional 380,393 shares in the last quarter. Citizens & Northern Corp lifted its holdings in shares of Fidelity MSCI Real Estate Index ETF by 32.2% during the 4th quarter. Citizens & Northern Corp now owns 1,087,071 shares of the company’s stock valued at $29,231,000 after purchasing an additional 264,741 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its position in shares of Fidelity MSCI Real Estate Index ETF by 7.1% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 815,738 shares of the company’s stock valued at $21,935,000 after purchasing an additional 54,228 shares during the period. Finally, Black Diamond Financial LLC grew its position in shares of Fidelity MSCI Real Estate Index ETF by 10.9% in the 4th quarter. Black Diamond Financial LLC now owns 752,837 shares of the company’s stock valued at $20,244,000 after purchasing an additional 74,069 shares during the period.
About Fidelity MSCI Real Estate Index ETF
The Fidelity MSCI Real Estate Index ETF (FREL) is an exchange-traded fund that is based on the MSCI US IMI\u002FReal Estate 25-25 index. The fund tracks a cap-weighted index of US REIT and real estate companies across the entire market-cap spectrum. FREL was launched on Feb 2, 2015 and is managed by Fidelity.