Short Interest in Fidelity MSCI Financials Index ETF (NYSEARCA:FNCL) Decreases By 40.6%

Fidelity MSCI Financials Index ETF (NYSEARCA:FNCL) was the recipient of a large decrease in short interest in May. As of May 29th, there was short interest totaling 6,899 shares, a decrease of 40.6% from the May 14th total of 11,618 shares. Approximately 0.0% of the shares of the stock are sold short. Based on an average daily trading volume, of 104,744 shares, the days-to-cover ratio is presently 0.1 days.

Fidelity MSCI Financials Index ETF Stock Up 0.3%

NYSEARCA:FNCL traded up $0.21 during mid-day trading on Monday, hitting $76.28. 75,990 shares of the stock traded hands, compared to its average volume of 136,910. The stock has a market capitalization of $2.27 billion, a price-to-earnings ratio of 17.73 and a beta of 0.90. Fidelity MSCI Financials Index ETF has a 52 week low of $67.76 and a 52 week high of $80.31. The firm’s 50 day moving average is $73.68 and its two-hundred day moving average is $74.58.

Hedge Funds Weigh In On Fidelity MSCI Financials Index ETF

Several hedge funds have recently added to or reduced their stakes in the company. Royal Bank of Canada grew its stake in Fidelity MSCI Financials Index ETF by 71.8% in the 1st quarter. Royal Bank of Canada now owns 30,610 shares of the company’s stock worth $2,128,000 after acquiring an additional 12,791 shares in the last quarter. NewEdge Advisors LLC grew its stake in Fidelity MSCI Financials Index ETF by 113.4% in the 1st quarter. NewEdge Advisors LLC now owns 15,905 shares of the company’s stock worth $1,106,000 after acquiring an additional 8,451 shares in the last quarter. Jones Financial Companies Lllp grew its stake in Fidelity MSCI Financials Index ETF by 19.1% in the 1st quarter. Jones Financial Companies Lllp now owns 7,020 shares of the company’s stock worth $479,000 after acquiring an additional 1,128 shares in the last quarter. Jane Street Group LLC bought a new position in Fidelity MSCI Financials Index ETF in the 1st quarter worth about $2,344,000. Finally, Focus Partners Wealth bought a new position in Fidelity MSCI Financials Index ETF in the 1st quarter worth about $200,000.

About Fidelity MSCI Financials Index ETF

The Fidelity MSCI Financials Index ETF (FNCL) is an exchange-traded fund that is based on the MSCI USA IMI Financials 25\u002F50 index, a market-cap-weighted index of US financial companies across the entire market-cap spectrum. FNCL was launched on Oct 21, 2013 and is managed by Fidelity.