Fidelity MSCI Utilities Index ETF (NYSEARCA:FUTY) Sets New 1-Year Low – Should You Sell?

Shares of Fidelity MSCI Utilities Index ETF (NYSEARCA:FUTY) reached a new 52-week low during trading on Monday. The stock traded as low as $50.64 and last traded at $50.6680, with a volume of 112938 shares changing hands. The stock had previously closed at $51.17.

Fidelity MSCI Utilities Index ETF Stock Performance

The company has a market capitalization of $2.10 billion, a PE ratio of 20.34 and a beta of 0.58. The company’s 50-day simple moving average is $55.78 and its 200-day simple moving average is $57.62.

Hedge Funds Weigh In On Fidelity MSCI Utilities Index ETF

Institutional investors have recently added to or reduced their stakes in the stock. Bank of America Corp DE lifted its position in Fidelity MSCI Utilities Index ETF by 0.9% during the 1st quarter. Bank of America Corp DE now owns 9,170,828 shares of the company’s stock worth $541,721,000 after acquiring an additional 77,710 shares during the period. Kestra Advisory Services LLC lifted its holdings in shares of Fidelity MSCI Utilities Index ETF by 13.7% during the first quarter. Kestra Advisory Services LLC now owns 552,635 shares of the company’s stock worth $32,644,000 after purchasing an additional 66,524 shares during the period. Envestnet Asset Management Inc. lifted its holdings in shares of Fidelity MSCI Utilities Index ETF by 21.2% during the second quarter. Envestnet Asset Management Inc. now owns 419,958 shares of the company’s stock worth $24,534,000 after purchasing an additional 73,449 shares during the period. Cetera Investment Advisers grew its position in Fidelity MSCI Utilities Index ETF by 29.9% in the 1st quarter. Cetera Investment Advisers now owns 250,627 shares of the company’s stock valued at $14,805,000 after buying an additional 57,657 shares during the last quarter. Finally, Apollon Wealth Management LLC grew its position in Fidelity MSCI Utilities Index ETF by 8.2% in the 1st quarter. Apollon Wealth Management LLC now owns 141,953 shares of the company’s stock valued at $8,385,000 after buying an additional 10,770 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.