Short Interest in Fidelity MSCI Materials Index ETF (NYSEARCA:FMAT) Grows By 29.8%
by Mitch Edgeman · The Markets DailyFidelity MSCI Materials Index ETF (NYSEARCA:FMAT – Get Free Report) was the target of a significant increase in short interest during the month of January. As of January 30th, there was short interest totaling 53,607 shares, an increase of 29.8% from the January 15th total of 41,293 shares. Approximately 0.6% of the shares of the company are sold short. Based on an average trading volume of 47,726 shares, the short-interest ratio is presently 1.1 days. Based on an average trading volume of 47,726 shares, the short-interest ratio is presently 1.1 days. Approximately 0.6% of the shares of the company are sold short.
Hedge Funds Weigh In On Fidelity MSCI Materials Index ETF
Several institutional investors have recently bought and sold shares of the company. Royal Bank of Canada lifted its stake in shares of Fidelity MSCI Materials Index ETF by 237.9% in the 4th quarter. Royal Bank of Canada now owns 17,094 shares of the company’s stock worth $908,000 after acquiring an additional 12,035 shares during the period. Motiv8 Investments LLC acquired a new stake in Fidelity MSCI Materials Index ETF in the fourth quarter valued at about $83,000. Arax Advisory Partners purchased a new stake in Fidelity MSCI Materials Index ETF in the 4th quarter valued at approximately $122,000. Kestra Advisory Services LLC purchased a new stake in Fidelity MSCI Materials Index ETF in the 4th quarter valued at approximately $103,000. Finally, Wells Fargo & Company MN increased its position in Fidelity MSCI Materials Index ETF by 11.5% during the 4th quarter. Wells Fargo & Company MN now owns 11,733 shares of the company’s stock worth $623,000 after purchasing an additional 1,211 shares during the period.
Fidelity MSCI Materials Index ETF Stock Down 1.2%
FMAT stock traded down $0.74 during trading on Tuesday, hitting $61.10. The company had a trading volume of 17,031 shares, compared to its average volume of 54,524. The firm has a 50-day moving average price of $56.58 and a 200-day moving average price of $53.40. The firm has a market cap of $537.64 million, a PE ratio of 23.26 and a beta of 1.07. Fidelity MSCI Materials Index ETF has a 1-year low of $41.39 and a 1-year high of $62.75.
Fidelity MSCI Materials Index ETF Company Profile
The Fidelity MSCI Materials Index ETF (FMAT) is an exchange-traded fund that is based on the MSCI USA IMI Materials 25\u002F50 index, a market-cap-weighted index of stocks in the US basic materials sector across the entire market-cap spectrum. FMAT was launched on Oct 21, 2013 and is managed by Fidelity.