Fidelity MSCI Utilities Index ETF (NYSEARCA:FUTY) Sets New 1-Year Low – Here’s Why

Shares of Fidelity MSCI Utilities Index ETF (NYSEARCA:FUTY) hit a new 52-week low during mid-day trading on Monday . The company traded as low as $54.10 and last traded at $54.0850, with a volume of 62580 shares changing hands. The stock had previously closed at $54.70.

Fidelity MSCI Utilities Index ETF Trading Down 1.0%

The business’s fifty day moving average price is $56.98 and its 200 day moving average price is $58.19. The company has a market capitalization of $2.20 billion, a P/E ratio of 20.34 and a beta of 0.58.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in FUTY. NewEdge Advisors LLC boosted its holdings in Fidelity MSCI Utilities Index ETF by 2.6% during the second quarter. NewEdge Advisors LLC now owns 75,699 shares of the company’s stock valued at $4,422,000 after purchasing an additional 1,948 shares in the last quarter. Ameritas Advisory Services LLC grew its stake in shares of Fidelity MSCI Utilities Index ETF by 49.7% in the 2nd quarter. Ameritas Advisory Services LLC now owns 22,285 shares of the company’s stock valued at $1,302,000 after purchasing an additional 7,396 shares during the period. Elevation Wealth Management LLC raised its holdings in shares of Fidelity MSCI Utilities Index ETF by 68.9% in the 2nd quarter. Elevation Wealth Management LLC now owns 9,020 shares of the company’s stock worth $527,000 after buying an additional 3,681 shares in the last quarter. Concurrent Investment Advisors LLC raised its holdings in shares of Fidelity MSCI Utilities Index ETF by 6.4% in the 2nd quarter. Concurrent Investment Advisors LLC now owns 7,139 shares of the company’s stock worth $417,000 after buying an additional 430 shares in the last quarter. Finally, Nwam LLC lifted its position in shares of Fidelity MSCI Utilities Index ETF by 424.8% during the 2nd quarter. Nwam LLC now owns 116,370 shares of the company’s stock worth $6,330,000 after buying an additional 94,197 shares during the period.

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.