Short Interest in Fidelity MSCI Materials Index ETF (NYSEARCA:FMAT) Rises By 83.0%

Fidelity MSCI Materials Index ETF (NYSEARCA:FMAT) was the target of a large increase in short interest during the month of August. As of August 31st, there was short interest totaling 26,438 shares, an increase of 83.0% from the August 15th total of 14,450 shares. Currently, 0.3% of the shares of the company are short sold. Based on an average daily volume of 41,402 shares, the short-interest ratio is presently 0.6 days.

Hedge Funds Weigh In On Fidelity MSCI Materials Index ETF

A number of hedge funds have recently bought and sold shares of the business. Lido Advisors LLC grew its position in shares of Fidelity MSCI Materials Index ETF by 4.9% during the 1st quarter. Lido Advisors LLC now owns 654,663 shares of the company’s stock worth $37,735,000 after purchasing an additional 30,472 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its stake in shares of Fidelity MSCI Materials Index ETF by 23,517.9% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 334,902 shares of the company’s stock valued at $17,787,000 after buying an additional 333,484 shares during the period. Cetera Investment Advisers grew its position in Fidelity MSCI Materials Index ETF by 614.1% during the first quarter. Cetera Investment Advisers now owns 100,986 shares of the company’s stock worth $5,821,000 after buying an additional 86,844 shares in the last quarter. Kovitz Investment Group Partners LLC increased its stake in Fidelity MSCI Materials Index ETF by 83.4% during the 4th quarter. Kovitz Investment Group Partners LLC now owns 96,473 shares of the company’s stock worth $5,124,000 after acquiring an additional 43,872 shares during the period. Finally, Commonwealth Equity Services LLC increased its stake in Fidelity MSCI Materials Index ETF by 9.9% during the 4th quarter. Commonwealth Equity Services LLC now owns 82,732 shares of the company’s stock worth $4,394,000 after acquiring an additional 7,466 shares during the period.

Fidelity MSCI Materials Index ETF Price Performance

FMAT traded up $0.20 during trading on Wednesday, hitting $58.02. The stock had a trading volume of 5,702 shares, compared to its average volume of 55,111. The company has a 50 day moving average price of $59.12 and a 200-day moving average price of $59.00. The firm has a market cap of $585.96 million, a price-to-earnings ratio of 23.26 and a beta of 0.97. Fidelity MSCI Materials Index ETF has a one year low of $48.76 and a one year high of $62.84.

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.