Short Interest in Fidelity MSCI Materials Index ETF (NYSEARCA:FMAT) Drops By 53.8%

Fidelity MSCI Materials Index ETF (NYSEARCA:FMAT) was the target of a large decline in short interest in the month of June. As of June 15th, there was short interest totaling 21,139 shares, a decline of 53.8% from the May 31st total of 45,799 shares. Based on an average daily volume of 42,535 shares, the days-to-cover ratio is presently 0.5 days. Approximately 0.2% of the shares of the company are short sold.

Institutional Trading of Fidelity MSCI Materials Index ETF

Several hedge funds have recently bought and sold shares of the company. Flagship Harbor Advisors LLC bought a new position in Fidelity MSCI Materials Index ETF in the 4th quarter worth about $35,000. Optima Capital LLC bought a new stake in shares of Fidelity MSCI Materials Index ETF during the fourth quarter valued at approximately $40,000. Northwestern Mutual Wealth Management Co. boosted its position in shares of Fidelity MSCI Materials Index ETF by 33.5% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,404 shares of the company’s stock worth $70,000 after buying an additional 352 shares during the period. Motiv8 Investments LLC acquired a new position in shares of Fidelity MSCI Materials Index ETF during the fourth quarter worth approximately $83,000. Finally, Qube Research & Technologies Ltd acquired a new position in shares of Fidelity MSCI Materials Index ETF during the second quarter worth approximately $91,000.

Fidelity MSCI Materials Index ETF Trading Up 0.4%

FMAT traded up $0.24 during trading on Tuesday, reaching $58.51. 296,818 shares of the company were exchanged, compared to its average volume of 58,834. Fidelity MSCI Materials Index ETF has a 52 week low of $48.76 and a 52 week high of $62.84. The firm has a 50 day moving average of $59.35 and a 200 day moving average of $58.30. The stock has a market cap of $596.80 million, a P/E ratio of 23.26 and a beta of 0.96.

Fidelity MSCI Materials Index ETF Company Profile

The Fidelity MSCI Materials Index ETF (FMAT) is an exchange-traded fund that is based on the MSCI USA IMI Materials 25\u002F50 index, a market-cap-weighted index of stocks in the US basic materials sector across the entire market-cap spectrum. FMAT was launched on Oct 21, 2013 and is managed by Fidelity.