Short Interest in Fidelity MSCI Financials Index ETF (NYSEARCA:FNCL) Expands By 86.5%

Fidelity MSCI Financials Index ETF (NYSEARCA:FNCL) was the recipient of a significant growth in short interest during the month of February. As of February 27th, there was short interest totaling 73,602 shares, a growth of 86.5% from the February 12th total of 39,470 shares. Currently, 0.2% of the company’s stock are sold short. Based on an average daily trading volume, of 123,558 shares, the days-to-cover ratio is currently 0.6 days. Based on an average daily trading volume, of 123,558 shares, the days-to-cover ratio is currently 0.6 days. Currently, 0.2% of the company’s stock are sold short.

Fidelity MSCI Financials Index ETF Price Performance

NYSEARCA FNCL opened at $69.39 on Friday. Fidelity MSCI Financials Index ETF has a fifty-two week low of $58.68 and a fifty-two week high of $80.31. The stock’s 50-day moving average is $75.33 and its two-hundred day moving average is $75.69. The firm has a market cap of $2.19 billion, a P/E ratio of 17.73 and a beta of 1.02.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the stock. AlphaCore Capital LLC lifted its holdings in Fidelity MSCI Financials Index ETF by 833.3% in the 4th quarter. AlphaCore Capital LLC now owns 448 shares of the company’s stock worth $35,000 after purchasing an additional 400 shares during the last quarter. Caldwell Trust Co acquired a new position in Fidelity MSCI Financials Index ETF during the second quarter valued at approximately $44,000. Colonial Trust Co SC grew its holdings in Fidelity MSCI Financials Index ETF by 56.9% during the fourth quarter. Colonial Trust Co SC now owns 568 shares of the company’s stock valued at $44,000 after purchasing an additional 206 shares during the last quarter. Sound Income Strategies LLC raised its position in shares of Fidelity MSCI Financials Index ETF by 340.6% in the fourth quarter. Sound Income Strategies LLC now owns 608 shares of the company’s stock valued at $47,000 after purchasing an additional 470 shares during the period. Finally, Larson Financial Group LLC raised its position in shares of Fidelity MSCI Financials Index ETF by 1,427.5% in the third quarter. Larson Financial Group LLC now owns 611 shares of the company’s stock valued at $47,000 after purchasing an additional 571 shares during the period.

About Fidelity MSCI Financials Index ETF

The Fidelity MSCI Financials Index ETF (FNCL) is an exchange-traded fund that is based on the MSCI USA IMI Financials 25\u002F50 index, a market-cap-weighted index of US financial companies across the entire market-cap spectrum. FNCL was launched on Oct 21, 2013 and is managed by Fidelity.