Short Interest in Fidelity MSCI Communication Services Index ETF (NYSEARCA:FCOM) Rises By 547.1%

Fidelity MSCI Communication Services Index ETF (NYSEARCA:FCOM) was the target of a large increase in short interest in February. As of February 27th, there was short interest totaling 39,059 shares, an increase of 547.1% from the February 12th total of 6,036 shares. Based on an average trading volume of 129,172 shares, the days-to-cover ratio is presently 0.3 days. Currently, 0.1% of the company’s stock are short sold. Currently, 0.1% of the company’s stock are short sold. Based on an average trading volume of 129,172 shares, the days-to-cover ratio is presently 0.3 days.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in FCOM. Harel Insurance Investments & Financial Services Ltd. lifted its position in shares of Fidelity MSCI Communication Services Index ETF by 10.5% during the 4th quarter. Harel Insurance Investments & Financial Services Ltd. now owns 2,990,672 shares of the company’s stock worth $219,156,000 after buying an additional 284,563 shares in the last quarter. Mercer Global Advisors Inc. ADV purchased a new position in shares of Fidelity MSCI Communication Services Index ETF in the 3rd quarter worth approximately $18,465,000. Bellwether Advisors LLC bought a new position in shares of Fidelity MSCI Communication Services Index ETF in the fourth quarter valued at approximately $14,682,000. Lido Advisors LLC grew its holdings in shares of Fidelity MSCI Communication Services Index ETF by 10.4% in the third quarter. Lido Advisors LLC now owns 2,062,288 shares of the company’s stock valued at $146,361,000 after acquiring an additional 194,559 shares in the last quarter. Finally, Orion Porfolio Solutions LLC increased its position in shares of Fidelity MSCI Communication Services Index ETF by 282.8% during the second quarter. Orion Porfolio Solutions LLC now owns 177,845 shares of the company’s stock valued at $12,202,000 after acquiring an additional 131,384 shares during the last quarter.

Fidelity MSCI Communication Services Index ETF Stock Performance

FCOM traded down $1.29 during midday trading on Thursday, reaching $70.82. 61,874 shares of the company were exchanged, compared to its average volume of 174,735. The company has a market cap of $1.86 billion, a price-to-earnings ratio of 19.08 and a beta of 1.06. Fidelity MSCI Communication Services Index ETF has a one year low of $48.96 and a one year high of $75.94. The company’s fifty day moving average price is $72.77 and its 200 day moving average price is $71.53.

About Fidelity MSCI Communication Services Index ETF

The Fidelity MSCI Communication Services Index ETF (FCOM) is an exchange-traded fund that mostly invests in communication services equity. The fund tracks a market-cap-weighted index of stocks in the US communication services sector. FCOM was launched on Oct 21, 2013 and is managed by Fidelity.