Fidelity MSCI Utilities Index ETF (NYSEARCA:FUTY) Short Interest Down 38.3% in May

Fidelity MSCI Utilities Index ETF (NYSEARCA:FUTY) was the target of a significant decrease in short interest during the month of May. As of May 15th, there was short interest totaling 88,723 shares, a decrease of 38.3% from the April 30th total of 143,881 shares. Currently, 0.2% of the shares of the stock are sold short. Based on an average trading volume of 341,853 shares, the days-to-cover ratio is currently 0.3 days.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of FUTY. Qube Research & Technologies Ltd bought a new position in shares of Fidelity MSCI Utilities Index ETF during the second quarter valued at about $147,000. NewEdge Advisors LLC grew its stake in shares of Fidelity MSCI Utilities Index ETF by 1.8% during the second quarter. NewEdge Advisors LLC now owns 64,625 shares of the company’s stock valued at $3,399,000 after buying an additional 1,159 shares during the last quarter. Ameriprise Financial Inc. grew its stake in shares of Fidelity MSCI Utilities Index ETF by 4.5% during the second quarter. Ameriprise Financial Inc. now owns 77,542 shares of the company’s stock valued at $4,079,000 after buying an additional 3,358 shares during the last quarter. Bank of America Corp DE grew its stake in shares of Fidelity MSCI Utilities Index ETF by 2.0% during the second quarter. Bank of America Corp DE now owns 8,795,631 shares of the company’s stock valued at $462,650,000 after buying an additional 171,754 shares during the last quarter. Finally, BNP Paribas Financial Markets bought a new position in shares of Fidelity MSCI Utilities Index ETF during the second quarter valued at about $2,630,000.

Fidelity MSCI Utilities Index ETF Stock Up 2.0%

FUTY opened at $56.94 on Wednesday. The stock has a market cap of $2.32 billion, a PE ratio of 20.34 and a beta of 0.62. Fidelity MSCI Utilities Index ETF has a 52 week low of $51.50 and a 52 week high of $61.51. The business’s fifty day simple moving average is $58.76 and its 200 day simple moving average is $57.81.

About Fidelity MSCI Utilities Index ETF

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.