Short Interest in Fidelity MSCI Communication Services Index ETF (NYSEARCA:FCOM) Grows By 547.1%

Fidelity MSCI Communication Services Index ETF (NYSEARCA:FCOM) saw a significant growth in short interest in February. As of February 27th, there was short interest totaling 39,059 shares, a growth of 547.1% from the February 12th total of 6,036 shares. Approximately 0.1% of the shares of the company are sold short. Based on an average daily trading volume, of 129,172 shares, the days-to-cover ratio is currently 0.3 days. Based on an average daily trading volume, of 129,172 shares, the days-to-cover ratio is currently 0.3 days. Approximately 0.1% of the shares of the company are sold short.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in FCOM. NewEdge Advisors LLC raised its position in shares of Fidelity MSCI Communication Services Index ETF by 128.0% in the first quarter. NewEdge Advisors LLC now owns 9,354 shares of the company’s stock valued at $526,000 after buying an additional 5,251 shares in the last quarter. Atlantic Union Bankshares Corp acquired a new stake in Fidelity MSCI Communication Services Index ETF during the second quarter worth approximately $26,000. AE Wealth Management LLC increased its stake in Fidelity MSCI Communication Services Index ETF by 7.3% during the 2nd quarter. AE Wealth Management LLC now owns 119,757 shares of the company’s stock worth $7,761,000 after acquiring an additional 8,122 shares during the period. Birchcreek Wealth Management LLC increased its stake in Fidelity MSCI Communication Services Index ETF by 12.1% during the 2nd quarter. Birchcreek Wealth Management LLC now owns 19,342 shares of the company’s stock worth $1,254,000 after acquiring an additional 2,090 shares during the period. Finally, Smithfield Trust Co raised its holdings in Fidelity MSCI Communication Services Index ETF by 41.2% in the 2nd quarter. Smithfield Trust Co now owns 6,650 shares of the company’s stock valued at $431,000 after acquiring an additional 1,940 shares in the last quarter.

Fidelity MSCI Communication Services Index ETF Stock Performance

Shares of FCOM stock traded down $0.14 on Tuesday, hitting $72.17. The company’s stock had a trading volume of 167,275 shares, compared to its average volume of 178,586. The stock’s 50 day moving average is $72.85 and its 200-day moving average is $71.53. Fidelity MSCI Communication Services Index ETF has a fifty-two week low of $48.96 and a fifty-two week high of $75.94. The company has a market capitalization of $1.89 billion, a PE ratio of 19.08 and a beta of 1.06.

About Fidelity MSCI Communication Services Index ETF

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.