Fidelity MSCI Utilities Index ETF (NYSEARCA:FUTY) Sees Large Decline in Short Interest
by Danessa Lincoln · The Markets DailyFidelity MSCI Utilities Index ETF (NYSEARCA:FUTY – Get Free Report) was the target of a large drop in short interest during the month of January. As of January 30th, there was short interest totaling 47,186 shares, a drop of 38.6% from the January 15th total of 76,796 shares. Approximately 0.1% of the company’s shares are sold short. Based on an average daily trading volume, of 282,266 shares, the days-to-cover ratio is currently 0.2 days. Based on an average daily trading volume, of 282,266 shares, the days-to-cover ratio is currently 0.2 days. Approximately 0.1% of the company’s shares are sold short.
Institutional Trading of Fidelity MSCI Utilities Index ETF
A number of institutional investors and hedge funds have recently bought and sold shares of FUTY. Bank of America Corp DE lifted its holdings in Fidelity MSCI Utilities Index ETF by 3.3% during the 3rd quarter. Bank of America Corp DE now owns 9,084,792 shares of the company’s stock worth $513,018,000 after buying an additional 289,161 shares during the period. AE Wealth Management LLC raised its position in shares of Fidelity MSCI Utilities Index ETF by 31.6% during the fourth quarter. AE Wealth Management LLC now owns 1,371,364 shares of the company’s stock worth $75,727,000 after acquiring an additional 329,549 shares during the last quarter. LPL Financial LLC lifted its stake in shares of Fidelity MSCI Utilities Index ETF by 11.3% in the fourth quarter. LPL Financial LLC now owns 752,838 shares of the company’s stock worth $41,572,000 after acquiring an additional 76,597 shares during the period. Osaic Holdings Inc. boosted its holdings in Fidelity MSCI Utilities Index ETF by 28.7% in the second quarter. Osaic Holdings Inc. now owns 745,001 shares of the company’s stock valued at $39,209,000 after acquiring an additional 166,037 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. boosted its holdings in Fidelity MSCI Utilities Index ETF by 1,161.7% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 643,682 shares of the company’s stock valued at $35,544,000 after acquiring an additional 592,663 shares during the last quarter.
Fidelity MSCI Utilities Index ETF Trading Up 2.6%
NYSEARCA:FUTY traded up $1.55 during mid-day trading on Friday, hitting $60.05. 371,638 shares of the company’s stock were exchanged, compared to its average volume of 311,428. Fidelity MSCI Utilities Index ETF has a fifty-two week low of $45.94 and a fifty-two week high of $60.56. The firm has a market capitalization of $2.38 billion, a P/E ratio of 20.34 and a beta of 0.61. The company has a 50 day simple moving average of $55.83 and a 200-day simple moving average of $56.31.
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.