Short Interest in Fidelity MSCI Materials Index ETF (NYSEARCA:FMAT) Decreases By 12.8%

Fidelity MSCI Materials Index ETF (NYSEARCA:FMAT) saw a large decrease in short interest during the month of March. As of March 13th, there was short interest totaling 70,275 shares, a decrease of 12.8% from the February 26th total of 80,633 shares. Currently, 0.8% of the company’s shares are short sold. Based on an average trading volume of 51,937 shares, the days-to-cover ratio is currently 1.4 days.

Fidelity MSCI Materials Index ETF Price Performance

Fidelity MSCI Materials Index ETF stock opened at $58.42 on Thursday. The firm has a market capitalization of $514.10 million, a price-to-earnings ratio of 23.26 and a beta of 1.07. The company’s 50 day simple moving average is $59.15 and its 200 day simple moving average is $54.84. Fidelity MSCI Materials Index ETF has a fifty-two week low of $41.39 and a fifty-two week high of $62.84.

Hedge Funds Weigh In On Fidelity MSCI Materials Index ETF

Hedge funds and other institutional investors have recently made changes to their positions in the company. Caldwell Trust Co acquired a new position in shares of Fidelity MSCI Materials Index ETF in the 3rd quarter valued at $26,000. Atlantic Union Bankshares Corp acquired a new stake in Fidelity MSCI Materials Index ETF during the 3rd quarter worth $27,000. Flagship Harbor Advisors LLC bought a new position in Fidelity MSCI Materials Index ETF during the fourth quarter worth about $35,000. Optima Capital LLC bought a new position in Fidelity MSCI Materials Index ETF during the fourth quarter worth about $40,000. Finally, Northwestern Mutual Wealth Management Co. grew its stake in Fidelity MSCI Materials Index ETF by 33.5% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,404 shares of the company’s stock valued at $70,000 after acquiring an additional 352 shares during the period.

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.