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

Fidelity MSCI Utilities Index ETF (NYSEARCA:FUTY) saw a large drop in short interest during the month of May. As of May 29th, there was short interest totaling 36,956 shares, a drop of 58.3% from the May 14th total of 88,723 shares. Based on an average daily volume of 290,922 shares, the short-interest ratio is presently 0.1 days. Currently, 0.1% of the company’s shares are sold short.

Fidelity MSCI Utilities Index ETF Trading Up 1.1%

Shares of Fidelity MSCI Utilities Index ETF stock traded up $0.65 during mid-day trading on Friday, hitting $57.54. 351,337 shares of the stock were exchanged, compared to its average volume of 340,951. Fidelity MSCI Utilities Index ETF has a twelve month low of $51.50 and a twelve month high of $61.51. The stock has a market capitalization of $2.34 billion, a price-to-earnings ratio of 20.34 and a beta of 0.60. The company has a 50-day simple moving average of $58.48 and a 200 day simple moving average of $57.78.

Institutional Investors Weigh In On Fidelity MSCI Utilities Index ETF

Several hedge funds have recently modified their holdings of FUTY. Bayban acquired a new stake in shares of Fidelity MSCI Utilities Index ETF during the 4th quarter worth about $26,000. Elyxium Wealth LLC acquired a new stake in shares of Fidelity MSCI Utilities Index ETF in the fourth quarter worth approximately $30,000. First Horizon Corp acquired a new stake in shares of Fidelity MSCI Utilities Index ETF in the fourth quarter worth approximately $42,000. Motiv8 Investments LLC acquired a new stake in shares of Fidelity MSCI Utilities Index ETF in the fourth quarter worth approximately $75,000. Finally, Global Retirement Partners LLC boosted its position in shares of Fidelity MSCI Utilities Index ETF by 46.1% in the fourth quarter. Global Retirement Partners LLC now owns 1,723 shares of the company’s stock worth $95,000 after acquiring an additional 544 shares during the last quarter.

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.