Fidelity MSCI Communication Services Index ETF (NYSEARCA:FCOM) Short Interest Down 32.4% in December

Fidelity MSCI Communication Services Index ETF (NYSEARCA:FCOM) saw a large decline in short interest during the month of December. As of December 31st, there was short interest totaling 49,053 shares, a decline of 32.4% from the December 15th total of 72,573 shares. Approximately 0.2% of the shares of the company are short sold. Based on an average daily volume of 112,143 shares, the short-interest ratio is presently 0.4 days. Based on an average daily volume of 112,143 shares, the short-interest ratio is presently 0.4 days. Approximately 0.2% of the shares of the company are short sold.

Fidelity MSCI Communication Services Index ETF Trading Down 0.5%

Shares of NYSEARCA FCOM traded down $0.40 during midday trading on Friday, reaching $72.77. The company had a trading volume of 67,719 shares, compared to its average volume of 105,702. Fidelity MSCI Communication Services Index ETF has a 1 year low of $48.96 and a 1 year high of $74.23. The business’s 50-day simple moving average is $72.05 and its 200 day simple moving average is $69.64. The stock has a market cap of $1.91 billion, a P/E ratio of 19.08 and a beta of 1.06.

Hedge Funds Weigh In On Fidelity MSCI Communication Services Index ETF

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in FCOM. Commonwealth Equity Services LLC raised its stake in shares of Fidelity MSCI Communication Services Index ETF by 11.3% during the 3rd quarter. Commonwealth Equity Services LLC now owns 295,874 shares of the company’s stock worth $20,998,000 after buying an additional 30,095 shares during the period. Janney Montgomery Scott LLC grew its stake in Fidelity MSCI Communication Services Index ETF by 16.0% in the 2nd quarter. Janney Montgomery Scott LLC now owns 67,249 shares of the company’s stock valued at $4,358,000 after acquiring an additional 9,255 shares during the period. Park Avenue Securities LLC purchased a new stake in Fidelity MSCI Communication Services Index ETF in the 2nd quarter worth $201,000. AGF Management Ltd. increased its holdings in Fidelity MSCI Communication Services Index ETF by 10.6% in the 2nd quarter. AGF Management Ltd. now owns 632,275 shares of the company’s stock worth $40,978,000 after acquiring an additional 60,681 shares in the last quarter. Finally, VCI Wealth Management LLC raised its position in Fidelity MSCI Communication Services Index ETF by 7.4% during the second quarter. VCI Wealth Management LLC now owns 21,409 shares of the company’s stock worth $1,388,000 after acquiring an additional 1,475 shares during the period.

Fidelity MSCI Communication Services Index ETF Company Profile

The Fidelity MSCI Communication Services Index ETF (FCOM) is an exchange-traded fund that mostly invests in communication services equity. The fund tracks a market-cap-weighted index of stocks in the US communication services sector. FCOM was launched on Oct 21, 2013 and is managed by Fidelity.