Fidelity MSCI Utilities Index ETF (NYSEARCA:FUTY) Sees Strong Trading Volume – Here’s Why

Fidelity MSCI Utilities Index ETF (NYSEARCA:FUTY) shares saw unusually-high trading volume on Tuesday . 897,719 shares changed hands during mid-day trading, an increase of 166% from the previous session’s volume of 337,022 shares.The stock last traded at $56.92 and had previously closed at $57.18.

Fidelity MSCI Utilities Index ETF Stock Down 0.5%

The stock’s 50-day simple moving average is $58.05 and its 200 day simple moving average is $58.42. The firm has a market cap of $2.32 billion, a P/E ratio of 20.34 and a beta of 0.59.

Institutional Investors Weigh In On Fidelity MSCI Utilities Index ETF

Several large investors have recently added to or reduced their stakes in the business. Northwestern Mutual Wealth Management Co. increased its stake in Fidelity MSCI Utilities Index ETF by 1,161.7% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 643,682 shares of the company’s stock valued at $35,544,000 after purchasing an additional 592,663 shares in the last quarter. Orion Porfolio Solutions LLC grew its stake in shares of Fidelity MSCI Utilities Index ETF by 1,318.8% in the 2nd quarter. Orion Porfolio Solutions LLC now owns 472,118 shares of the company’s stock valued at $24,833,000 after buying an additional 438,842 shares during the period. AE Wealth Management LLC increased its position in Fidelity MSCI Utilities Index ETF by 31.6% in the 4th quarter. AE Wealth Management LLC now owns 1,371,364 shares of the company’s stock valued at $75,727,000 after buying an additional 329,549 shares in the last quarter. Bank of America Corp DE increased its position in Fidelity MSCI Utilities Index ETF by 3.3% in the 3rd quarter. Bank of America Corp DE now owns 9,084,792 shares of the company’s stock valued at $513,018,000 after buying an additional 289,161 shares in the last quarter. Finally, Retirement Management Systems Inc. acquired a new position in Fidelity MSCI Utilities Index ETF during the 4th quarter worth approximately $7,033,000.

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.