Short Interest in Fidelity MSCI Information Technology Index ETF (NYSEARCA:FTEC) Drops By 23.0%

Fidelity MSCI Information Technology Index ETF (NYSEARCA:FTEC) was the target of a large decrease in short interest in the month of March. As of March 13th, there was short interest totaling 56,487 shares, a decrease of 23.0% from the February 26th total of 73,336 shares. Approximately 0.1% of the company’s shares are short sold. Based on an average trading volume of 517,196 shares, the short-interest ratio is currently 0.1 days.

Institutional Trading of Fidelity MSCI Information Technology Index ETF

Several institutional investors have recently made changes to their positions in FTEC. Brighton Jones LLC boosted its holdings in Fidelity MSCI Information Technology Index ETF by 8.8% in the fourth quarter. Brighton Jones LLC now owns 18,113 shares of the company’s stock valued at $3,349,000 after acquiring an additional 1,458 shares during the last quarter. Goldman Sachs Group Inc. acquired a new stake in Fidelity MSCI Information Technology Index ETF during the first quarter worth about $2,532,000. Jane Street Group LLC acquired a new stake in Fidelity MSCI Information Technology Index ETF during the first quarter worth about $3,833,000. JPMorgan Chase & Co. raised its holdings in shares of Fidelity MSCI Information Technology Index ETF by 11.5% in the 2nd quarter. JPMorgan Chase & Co. now owns 135,518 shares of the company’s stock worth $26,727,000 after purchasing an additional 13,927 shares during the period. Finally, Global Retirement Partners LLC purchased a new position in shares of Fidelity MSCI Information Technology Index ETF in the 2nd quarter worth about $363,000.

Fidelity MSCI Information Technology Index ETF Stock Up 2.1%

Shares of FTEC traded up $4.21 during mid-day trading on Tuesday, hitting $203.65. The company had a trading volume of 79,097 shares, compared to its average volume of 455,295. Fidelity MSCI Information Technology Index ETF has a 1-year low of $134.11 and a 1-year high of $240.25. The business’s 50-day simple moving average is $218.30 and its 200-day simple moving average is $222.95. The stock has a market cap of $14.87 billion, a PE ratio of 35.45 and a beta of 1.24.

About Fidelity MSCI Information Technology Index ETF

The Fidelity MSCI Information Technology Index ETF (FTEC) is an exchange-traded fund that mostly invests in information technology equity. The fund tracks a market-cap-weighted index of stocks in the broad US information technology sector. FTEC was launched on Oct 21, 2013 and is managed by Fidelity.