Valmark Advisers Inc. Acquires New Holdings in Fidelity MSCI Utilities Index ETF $FUTY

Valmark Advisers Inc. bought a new stake in shares of Fidelity MSCI Utilities Index ETF (NYSEARCA:FUTY) in the third quarter, Holdings Channel reports. The institutional investor bought 90,735 shares of the company’s stock, valued at approximately $4,632,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Bank of America Corp DE grew its holdings in shares of Fidelity MSCI Utilities Index ETF by 0.9% in the first quarter. Bank of America Corp DE now owns 9,170,828 shares of the company’s stock valued at $541,721,000 after purchasing an additional 77,710 shares in the last quarter. Envestnet Asset Management Inc. raised its stake in Fidelity MSCI Utilities Index ETF by 21.2% during the second quarter. Envestnet Asset Management Inc. now owns 419,958 shares of the company’s stock valued at $24,534,000 after purchasing an additional 73,449 shares in the last quarter. Commonwealth Equity Services LLC purchased a new stake in Fidelity MSCI Utilities Index ETF during the third quarter valued at $16,738,000. Cetera Investment Advisers raised its stake in Fidelity MSCI Utilities Index ETF by 29.9% during the first quarter. Cetera Investment Advisers now owns 250,627 shares of the company’s stock valued at $14,805,000 after purchasing an additional 57,657 shares in the last quarter. Finally, Apollon Wealth Management LLC lifted its position in Fidelity MSCI Utilities Index ETF by 4.8% during the third quarter. Apollon Wealth Management LLC now owns 158,299 shares of the company’s stock valued at $8,081,000 after purchasing an additional 7,271 shares during the last quarter.

Fidelity MSCI Utilities Index ETF Stock Performance

FUTY stock traded up $0.27 during trading on Friday, hitting $56.81. 316,945 shares of the company’s stock traded hands, compared to its average volume of 410,252. Fidelity MSCI Utilities Index ETF has a 52 week low of $50.53 and a 52 week high of $61.51. The stock has a market capitalization of $2.08 billion, a price-to-earnings ratio of 18.18 and a beta of 0.55. The business has a fifty day simple moving average of $54.10 and a 200 day simple moving average of $57.18.

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.