Fidelity MSCI Information Technology Index ETF (NYSEARCA:FTEC) Sees Significant Increase in Short Interest

Fidelity MSCI Information Technology Index ETF (NYSEARCA:FTEC) saw a significant growth in short interest in July. As of July 31st, there was short interest totaling 220,017 shares, a growth of 64.2% from the July 15th total of 133,960 shares. Based on an average daily volume of 330,332 shares, the short-interest ratio is presently 0.7 days. Approximately 0.3% of the company’s shares are sold short.

Hedge Funds Weigh In On Fidelity MSCI Information Technology Index ETF

Institutional investors have recently bought and sold shares of the company. Wealth Watch Advisors INC acquired a new stake in shares of Fidelity MSCI Information Technology Index ETF during the third quarter worth about $30,000. Elyxium Wealth LLC acquired a new stake in shares of Fidelity MSCI Information Technology Index ETF in the 4th quarter valued at $37,000. SouthState Bank Corp purchased a new stake in Fidelity MSCI Information Technology Index ETF during the 4th quarter worth about $50,000. Strategic Advocates LLC raised its holdings in Fidelity MSCI Information Technology Index ETF by 76.4% during the fourth quarter. Strategic Advocates LLC now owns 247 shares of the company’s stock worth $56,000 after purchasing an additional 107 shares in the last quarter. Finally, MidFirst Bank acquired a new position in Fidelity MSCI Information Technology Index ETF in the fourth quarter valued at $73,000.

Fidelity MSCI Information Technology Index ETF Stock Performance

Shares of NYSEARCA FTEC traded down $0.14 during trading on Monday, reaching $292.36. The stock had a trading volume of 205,914 shares, compared to its average volume of 396,646. Fidelity MSCI Information Technology Index ETF has a fifty-two week low of $198.17 and a fifty-two week high of $300.79. The business’s 50-day moving average price is $278.39 and its 200-day moving average price is $251.06. The company has a market cap of $21.49 billion, a P/E ratio of 35.45 and a beta of 1.34.

About Fidelity MSCI Information Technology Index ETF

The Fidelity MSCI Information Technology Index ETF (FTEC) is an exchange-traded fund that mostly invests in information technology equity. The fund tracks a market-cap-weighted index of stocks in the broad US information technology sector. FTEC was launched on Oct 21, 2013 and is managed by Fidelity.