Fidelity MSCI Materials Index ETF (NYSEARCA:FMAT) Short Interest Update

Fidelity MSCI Materials Index ETF (NYSEARCA:FMAT) was the recipient 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 stock are sold short. Based on an average daily trading volume, of 47,726 shares, the days-to-cover ratio is currently 1.1 days. Based on an average daily trading volume, of 47,726 shares, the days-to-cover ratio is currently 1.1 days. Approximately 0.6% of the shares of the stock are sold short.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Arax Advisory Partners acquired a new stake in Fidelity MSCI Materials Index ETF during the 4th quarter worth approximately $122,000. Kestra Advisory Services LLC acquired a new position in shares of Fidelity MSCI Materials Index ETF during the fourth quarter worth $103,000. Wells Fargo & Company MN grew its stake in shares of Fidelity MSCI Materials Index ETF by 11.5% in the fourth 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 last quarter. Federation des caisses Desjardins du Quebec acquired a new stake in Fidelity MSCI Materials Index ETF in the fourth quarter valued at $1,302,000. Finally, Commonwealth Equity Services LLC raised its position in Fidelity MSCI Materials Index ETF by 9.9% during the 4th quarter. Commonwealth Equity Services LLC now owns 82,732 shares of the company’s stock worth $4,394,000 after purchasing an additional 7,466 shares during the last quarter.

Fidelity MSCI Materials Index ETF Stock Up 1.0%

NYSEARCA FMAT opened at $61.84 on Monday. The company has a market cap of $544.19 million, a price-to-earnings ratio of 23.26 and a beta of 1.07. Fidelity MSCI Materials Index ETF has a twelve month low of $41.39 and a twelve month high of $62.75. The business’s fifty day moving average is $56.36 and its 200 day moving average is $53.32.

About Fidelity MSCI Materials Index ETF

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.