Short Interest in Fidelity MSCI Communication Services Index ETF (NYSEARCA:FCOM) Expands By 189.7%

Fidelity MSCI Communication Services Index ETF (NYSEARCA:FCOM) saw a significant increase in short interest in the month of March. As of March 31st, there was short interest totaling 73,964 shares, an increase of 189.7% from the March 15th total of 25,534 shares. Based on an average trading volume of 93,039 shares, the days-to-cover ratio is currently 0.8 days. Currently, 0.3% of the shares of the company are short sold.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. Rockefeller Capital Management L.P. raised its position in Fidelity MSCI Communication Services Index ETF by 24.8% in the fourth quarter. Rockefeller Capital Management L.P. now owns 1,594 shares of the company’s stock worth $117,000 after acquiring an additional 317 shares during the period. Corient Private Wealth LLC purchased a new stake in shares of Fidelity MSCI Communication Services Index ETF in the fourth quarter worth $253,000. Sunbelt Securities Inc. increased its stake in shares of Fidelity MSCI Communication Services Index ETF by 68.1% in the fourth quarter. Sunbelt Securities Inc. now owns 16,747 shares of the company’s stock worth $1,227,000 after purchasing an additional 6,784 shares in the last quarter. Kovitz Investment Group Partners LLC increased its stake in shares of Fidelity MSCI Communication Services Index ETF by 17.0% in the fourth quarter. Kovitz Investment Group Partners LLC now owns 104,850 shares of the company’s stock worth $7,683,000 after purchasing an additional 15,255 shares in the last quarter. Finally, Jacobs Equity LLC bought a new position in Fidelity MSCI Communication Services Index ETF in the 4th quarter worth $1,229,000.

Fidelity MSCI Communication Services Index ETF Trading Down 0.2%

FCOM stock traded down $0.12 during trading on Friday, reaching $71.32. The stock had a trading volume of 47,451 shares, compared to its average volume of 150,321. Fidelity MSCI Communication Services Index ETF has a 52 week low of $50.97 and a 52 week high of $75.94. The stock’s 50 day moving average is $70.96 and its two-hundred day moving average is $71.39. The firm has a market cap of $1.68 billion, a PE ratio of 19.08 and a beta of 1.07.

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.