Fidelity MSCI Information Technology Index ETF (NYSEARCA:FTEC) Sees Significant Increase in Short Interest

Fidelity MSCI Information Technology Index ETF (NYSEARCA:FTEC) saw a significant increase in short interest in the month of July. As of July 31st, there was short interest totaling 220,017 shares, an increase of 64.2% from the July 15th total of 133,960 shares. Based on an average trading volume of 330,332 shares, the short-interest ratio is presently 0.7 days. Approximately 0.3% of the shares of the company are short sold.

Institutional Trading of Fidelity MSCI Information Technology Index ETF

Several hedge funds have recently bought and sold shares of the company. Brighton Jones LLC grew its stake in shares of 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 worth $3,349,000 after purchasing an additional 1,458 shares in the last quarter. Goldman Sachs Group Inc. bought a new stake in shares of Fidelity MSCI Information Technology Index ETF during the first quarter valued at about $2,532,000. Jane Street Group LLC acquired a new stake in Fidelity MSCI Information Technology Index ETF in the first quarter worth about $3,833,000. Marshall Wace LLP bought a new position in Fidelity MSCI Information Technology Index ETF in the 2nd quarter valued at about $5,649,000. Finally, Flow Traders U.S. LLC bought a new position in Fidelity MSCI Information Technology Index ETF in the 2nd quarter valued at about $242,000.

Fidelity MSCI Information Technology Index ETF Price Performance

Shares of NYSEARCA FTEC traded down $3.59 during mid-day trading on Wednesday, hitting $282.23. The company had a trading volume of 65,952 shares, compared to its average volume of 393,567. Fidelity MSCI Information Technology Index ETF has a 12 month low of $198.17 and a 12 month high of $300.79. The stock has a market cap of $20.74 billion, a price-to-earnings ratio of 35.45 and a beta of 1.34. The firm’s 50 day simple moving average is $278.86 and its two-hundred day simple moving average is $251.89.

Fidelity MSCI Information Technology Index ETF Company Profile

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.