Fidelity MSCI Utilities Index ETF (NYSEARCA:FUTY) Sees Large Drop in Short Interest

Fidelity MSCI Utilities Index ETF (NYSEARCA:FUTY) was the recipient of a large drop in short interest in June. As of June 30th, there was short interest totaling 42,901 shares, a drop of 44.4% from the June 15th total of 77,208 shares. Approximately 0.1% of the shares of the stock are sold short. Based on an average daily volume of 331,434 shares, the days-to-cover ratio is presently 0.1 days.

Fidelity MSCI Utilities Index ETF Stock Up 0.5%

Shares of FUTY traded up $0.28 during midday trading on Thursday, hitting $58.66. The company’s stock had a trading volume of 292,205 shares, compared to its average volume of 337,390. Fidelity MSCI Utilities Index ETF has a one year low of $52.75 and a one year high of $61.51. The stock has a market capitalization of $2.37 billion, a price-to-earnings ratio of 20.34 and a beta of 0.59. The company’s fifty day simple moving average is $57.95 and its two-hundred day simple moving average is $58.17.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of FUTY. Smith Salley Wealth Management grew its holdings in shares of Fidelity MSCI Utilities Index ETF by 1.3% during the first quarter. Smith Salley Wealth Management now owns 13,635 shares of the company’s stock worth $805,000 after purchasing an additional 170 shares during the last quarter. Global Financial Private Client LLC increased its stake in shares of Fidelity MSCI Utilities Index ETF by 1.9% in the first quarter. Global Financial Private Client LLC now owns 11,180 shares of the company’s stock valued at $660,000 after buying an additional 209 shares during the period. D.A. Davidson & CO. raised its holdings in Fidelity MSCI Utilities Index ETF by 4.5% in the 1st quarter. D.A. Davidson & CO. now owns 5,400 shares of the company’s stock valued at $319,000 after buying an additional 233 shares during the last quarter. Valmark Advisers Inc. raised its holdings in Fidelity MSCI Utilities Index ETF by 0.3% in the 1st quarter. Valmark Advisers Inc. now owns 91,376 shares of the company’s stock valued at $5,398,000 after buying an additional 241 shares during the last quarter. Finally, Kestra Private Wealth Services LLC raised its holdings in Fidelity MSCI Utilities Index ETF by 5.5% in the 1st quarter. Kestra Private Wealth Services LLC now owns 4,707 shares of the company’s stock valued at $278,000 after buying an additional 245 shares during the last quarter.

Fidelity MSCI Utilities Index ETF Company Profile

The Fidelity MSCI Utilities Index ETF (FUTY) is an exchange-traded fund that is based on the MSCI USA IMI Utilities 25\u002F50 index. The fund tracks the MSCI US IMI Utilities 25\u002F50 Index, a market-cap-weighted index of stocks in the US utilities sector. FUTY was launched on Oct 21, 2013 and is managed by Fidelity.