Fidelity MSCI Materials Index ETF (NYSEARCA:FMAT) Short Interest Down 45.5% in December

Fidelity MSCI Materials Index ETF (NYSEARCA:FMAT) was the recipient of a significant drop in short interest during the month of December. As of December 15th, there was short interest totaling 19,485 shares, a drop of 45.5% from the November 30th total of 35,725 shares. Based on an average daily trading volume, of 30,666 shares, the days-to-cover ratio is currently 0.6 days. Currently, 0.2% of the shares of the company are short sold. Currently, 0.2% of the shares of the company are short sold. Based on an average daily trading volume, of 30,666 shares, the days-to-cover ratio is currently 0.6 days.

Fidelity MSCI Materials Index ETF Price Performance

NYSEARCA FMAT traded down $0.54 on Monday, hitting $53.64. 51,317 shares of the company’s stock were exchanged, compared to its average volume of 46,330. Fidelity MSCI Materials Index ETF has a fifty-two week low of $41.39 and a fifty-two week high of $54.20. The firm has a market cap of $439.85 million, a price-to-earnings ratio of 23.26 and a beta of 1.07. The firm’s 50-day moving average price is $51.42 and its two-hundred day moving average price is $51.58.

Institutional Trading of Fidelity MSCI Materials Index ETF

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Caldwell Trust Co acquired a new stake in shares of Fidelity MSCI Materials Index ETF during the 3rd quarter worth $26,000. Atlantic Union Bankshares Corp acquired a new stake in Fidelity MSCI Materials Index ETF during the third quarter worth about $27,000. Howe & Rusling Inc. acquired a new position in shares of Fidelity MSCI Materials Index ETF in the 2nd quarter valued at about $35,000. Ameritas Advisory Services LLC acquired a new position in shares of Fidelity MSCI Materials Index ETF in the 2nd quarter valued at about $36,000. Finally, Northwestern Mutual Wealth Management Co. increased its position in Fidelity MSCI Materials Index ETF by 33.5% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,404 shares of the company’s stock worth $70,000 after purchasing an additional 352 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.