Short Interest in Fidelity MSCI Materials Index ETF (NYSEARCA:FMAT) Decreases By 52.8%

Fidelity MSCI Materials Index ETF (NYSEARCA:FMAT) was the target of a large drop in short interest in February. As of February 13th, there was short interest totaling 25,307 shares, a drop of 52.8% from the January 29th total of 53,607 shares. Based on an average daily trading volume, of 64,547 shares, the short-interest ratio is presently 0.4 days. Currently, 0.3% of the company’s stock are sold short. Currently, 0.3% of the company’s stock are sold short. Based on an average daily trading volume, of 64,547 shares, the short-interest ratio is presently 0.4 days.

Fidelity MSCI Materials Index ETF Stock Performance

FMAT traded up $0.02 during trading on Friday, hitting $62.08. The stock had a trading volume of 8,204 shares, compared to its average volume of 52,185. The stock has a 50 day simple moving average of $58.05 and a two-hundred day simple moving average of $53.99. The company has a market capitalization of $546.26 million, a PE ratio of 23.26 and a beta of 1.07. Fidelity MSCI Materials Index ETF has a twelve month low of $41.39 and a twelve month high of $62.84.

Hedge Funds Weigh In On Fidelity MSCI Materials Index ETF

Several hedge funds have recently modified their holdings of the stock. Northwestern Mutual Wealth Management Co. boosted its stake in Fidelity MSCI Materials Index ETF by 23,517.9% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 334,902 shares of the company’s stock worth $17,787,000 after purchasing an additional 333,484 shares in the last quarter. AE Wealth Management LLC lifted its stake in shares of Fidelity MSCI Materials Index ETF by 25.8% during the fourth quarter. AE Wealth Management LLC now owns 1,328,708 shares of the company’s stock worth $70,568,000 after buying an additional 272,726 shares during the period. AGF Management Ltd. lifted its stake in shares of Fidelity MSCI Materials Index ETF by 91.5% during the second quarter. AGF Management Ltd. now owns 159,257 shares of the company’s stock worth $7,942,000 after buying an additional 76,078 shares during the period. Steward Partners Investment Advisory LLC grew its holdings in shares of Fidelity MSCI Materials Index ETF by 23,823.4% during the second quarter. Steward Partners Investment Advisory LLC now owns 55,263 shares of the company’s stock valued at $2,756,000 after buying an additional 55,032 shares during the last quarter. Finally, Lido Advisors LLC raised its stake in Fidelity MSCI Materials Index ETF by 8.7% in the 3rd quarter. Lido Advisors LLC now owns 623,248 shares of the company’s stock worth $32,677,000 after acquiring an additional 49,681 shares during the last quarter.

About Fidelity MSCI Materials Index ETF

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.