Fidelity MSCI Materials Index ETF (NYSEARCA:FMAT) Sees Large Growth in Short Interest

Fidelity MSCI Materials Index ETF (NYSEARCA:FMAT) was the recipient of a significant growth in short interest during the month of February. As of February 27th, there was short interest totaling 80,633 shares, a growth of 218.6% from the February 12th total of 25,307 shares. Based on an average daily volume of 43,298 shares, the short-interest ratio is currently 1.9 days. Currently, 0.9% of the shares of the company are sold short. Currently, 0.9% of the shares of the company are sold short. Based on an average daily volume of 43,298 shares, the short-interest ratio is currently 1.9 days.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of FMAT. Caldwell Trust Co bought a new stake in shares of Fidelity MSCI Materials Index ETF during the 3rd quarter valued at about $26,000. Atlantic Union Bankshares Corp bought a new position in shares of Fidelity MSCI Materials Index ETF in the 3rd quarter worth approximately $27,000. Howe & Rusling Inc. purchased a new position in shares of Fidelity MSCI Materials Index ETF in the second quarter worth approximately $35,000. Flagship Harbor Advisors LLC purchased a new position in shares of Fidelity MSCI Materials Index ETF in the fourth quarter worth approximately $35,000. Finally, Optima Capital LLC bought a new stake in Fidelity MSCI Materials Index ETF during the fourth quarter valued at approximately $40,000.

Fidelity MSCI Materials Index ETF Trading Down 0.3%

FMAT stock traded down $0.18 on Wednesday, hitting $58.02. The company had a trading volume of 21,195 shares, compared to its average volume of 53,268. The stock has a market cap of $510.58 million, a price-to-earnings ratio of 23.26 and a beta of 1.07. Fidelity MSCI Materials Index ETF has a 12-month low of $41.39 and a 12-month high of $62.84. The stock’s 50-day simple moving average is $59.05 and its 200 day simple moving average is $54.46.

About Fidelity MSCI Materials Index ETF

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.