Fidelity MSCI Utilities Index ETF (NYSEARCA:FUTY) Sees Strong Trading Volume – What’s Next?

Fidelity MSCI Utilities Index ETF (NYSEARCA:FUTY) saw strong trading volume on Tuesday . 897,719 shares traded hands during trading, an increase of 166% from the previous session’s volume of 337,022 shares.The stock last traded at $56.92 and had previously closed at $57.18.

Fidelity MSCI Utilities Index ETF Trading Down 0.6%

The firm has a market cap of $2.28 billion, a price-to-earnings ratio of 20.34 and a beta of 0.59. The company has a fifty day moving average price of $57.97 and a 200-day moving average price of $58.43.

Institutional Investors Weigh In On Fidelity MSCI Utilities Index ETF

Several hedge funds have recently bought and sold shares of the stock. Qube Research & Technologies Ltd purchased a new position in shares of Fidelity MSCI Utilities Index ETF during the 2nd quarter valued at approximately $147,000. NewEdge Advisors LLC grew its position in Fidelity MSCI Utilities Index ETF by 1.8% during the second quarter. NewEdge Advisors LLC now owns 64,625 shares of the company’s stock valued at $3,399,000 after buying an additional 1,159 shares during the period. Ameriprise Financial Inc. increased its holdings in Fidelity MSCI Utilities Index ETF by 4.5% in the second quarter. Ameriprise Financial Inc. now owns 77,542 shares of the company’s stock valued at $4,079,000 after buying an additional 3,358 shares in the last quarter. Bank of America Corp DE increased its holdings in Fidelity MSCI Utilities Index ETF by 2.0% in the second quarter. Bank of America Corp DE now owns 8,795,631 shares of the company’s stock valued at $462,650,000 after buying an additional 171,754 shares in the last quarter. Finally, BNP Paribas Financial Markets acquired a new position in shares of Fidelity MSCI Utilities Index ETF in the second quarter worth about $2,630,000.

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.