Short Interest in Fidelity MSCI Materials Index ETF (NYSEARCA:FMAT) Increases By 83.0%

Fidelity MSCI Materials Index ETF (NYSEARCA:FMAT) was the target of a significant growth in short interest in the month of August. As of August 31st, there was short interest totaling 26,438 shares, a growth of 83.0% from the August 15th total of 14,450 shares. Approximately 0.3% of the shares of the company are sold short. Based on an average trading volume of 41,402 shares, the short-interest ratio is currently 0.6 days.

Fidelity MSCI Materials Index ETF Trading Up 0.6%

NYSEARCA FMAT traded up $0.35 on Thursday, reaching $57.78. 38,834 shares of the stock were exchanged, compared to its average volume of 55,152. Fidelity MSCI Materials Index ETF has a one year low of $48.76 and a one year high of $62.84. The firm has a market capitalization of $583.58 million, a PE ratio of 23.26 and a beta of 0.97. The company’s 50-day simple moving average is $59.13 and its two-hundred day simple moving average is $58.97.

Institutional Trading of Fidelity MSCI Materials Index ETF

A number of hedge funds and other institutional investors have recently modified their holdings of the company. NewEdge Advisors LLC raised its position in shares of Fidelity MSCI Materials Index ETF by 1.8% during the 2nd quarter. NewEdge Advisors LLC now owns 11,810 shares of the company’s stock valued at $691,000 after purchasing an additional 208 shares during the period. Elevation Wealth Management LLC bought a new position in Fidelity MSCI Materials Index ETF in the 2nd quarter worth $328,000. Concurrent Investment Advisors LLC bought a new position in Fidelity MSCI Materials Index ETF in the 2nd quarter worth $200,000. Trust Co. of Vermont purchased a new stake in Fidelity MSCI Materials Index ETF in the 2nd quarter worth $67,000. Finally, Wealthcare Advisory Partners LLC increased its stake in Fidelity MSCI Materials Index ETF by 12.3% in the 2nd quarter. Wealthcare Advisory Partners LLC now owns 25,902 shares of the company’s stock worth $1,516,000 after buying an additional 2,827 shares in the last quarter.

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.