Fidelity MSCI Materials Index ETF (NYSEARCA:FMAT) Sees Significant Decline in Short Interest

Fidelity MSCI Materials Index ETF (NYSEARCA:FMAT) was the recipient of a large decrease in short interest in July. As of July 15th, there was short interest totaling 12,053 shares, a decrease of 60.5% from the June 30th total of 30,493 shares. Based on an average daily volume of 79,962 shares, the days-to-cover ratio is presently 0.2 days. Currently, 0.1% of the shares of the stock are sold short.

Institutional Investors Weigh In On Fidelity MSCI Materials Index ETF

Hedge funds have recently made changes to their positions in the business. Flagship Harbor Advisors LLC bought a new position in shares of Fidelity MSCI Materials Index ETF during the 4th quarter valued at $35,000. Optima Capital LLC purchased a new stake in Fidelity MSCI Materials Index ETF during the fourth quarter valued at about $40,000. Northwestern Mutual Wealth Management Co. boosted its position in Fidelity MSCI Materials Index ETF by 33.5% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,404 shares of the company’s stock valued at $70,000 after buying an additional 352 shares during the period. Motiv8 Investments LLC bought a new position in shares of Fidelity MSCI Materials Index ETF during the fourth quarter valued at about $83,000. Finally, Qube Research & Technologies Ltd bought a new position in shares of Fidelity MSCI Materials Index ETF during the second quarter valued at about $91,000.

Fidelity MSCI Materials Index ETF Stock Up 1.3%

Shares of NYSEARCA FMAT traded up $0.77 during trading hours on Tuesday, reaching $58.89. 38,719 shares of the stock traded hands, compared to its average volume of 59,096. The company has a market capitalization of $594.79 million, a P/E ratio of 23.26 and a beta of 0.97. Fidelity MSCI Materials Index ETF has a 52-week low of $48.76 and a 52-week high of $62.84. The company’s 50-day simple moving average is $58.66 and its two-hundred day simple moving average is $58.95.

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.