Short Interest in Fidelity MSCI Utilities Index ETF (NYSEARCA:FUTY) Declines By 44.4%

Fidelity MSCI Utilities Index ETF (NYSEARCA:FUTY) was the target of a large decrease in short interest in the month of June. As of June 30th, there was short interest totaling 42,901 shares, a decrease of 44.4% from the June 15th total of 77,208 shares. Based on an average daily volume of 331,434 shares, the days-to-cover ratio is currently 0.1 days. Currently, 0.1% of the shares of the stock are sold short.

Fidelity MSCI Utilities Index ETF Stock Down 0.6%

Shares of NYSEARCA FUTY opened at $58.28 on Friday. Fidelity MSCI Utilities Index ETF has a 52 week low of $53.23 and a 52 week high of $61.51. The firm has a 50-day moving average price of $57.96 and a 200 day moving average price of $58.17. The stock has a market capitalization of $2.36 billion, a price-to-earnings ratio of 20.34 and a beta of 0.59.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in FUTY. Bayban purchased a new stake in shares of Fidelity MSCI Utilities Index ETF during the 4th quarter worth approximately $26,000. Elyxium Wealth LLC purchased a new position in Fidelity MSCI Utilities Index ETF in the 4th quarter valued at approximately $30,000. First Horizon Corp purchased a new position in Fidelity MSCI Utilities Index ETF in the 4th quarter valued at approximately $42,000. Motiv8 Investments LLC acquired a new position in Fidelity MSCI Utilities Index ETF during the fourth quarter worth $75,000. Finally, Global Retirement Partners LLC raised its holdings in Fidelity MSCI Utilities Index ETF by 46.1% during the fourth quarter. Global Retirement Partners LLC now owns 1,723 shares of the company’s stock worth $95,000 after purchasing an additional 544 shares during the last quarter.

Fidelity MSCI Utilities Index ETF Company Profile

The Fidelity MSCI Utilities Index ETF (FUTY) is an exchange-traded fund that is based on the MSCI USA IMI Utilities 25\u002F50 index. The fund tracks the MSCI US IMI Utilities 25\u002F50 Index, a market-cap-weighted index of stocks in the US utilities sector. FUTY was launched on Oct 21, 2013 and is managed by Fidelity.