Fidelity MSCI Information Technology Index ETF (NYSEARCA:FTEC) Sees Large Growth in Short Interest

Fidelity MSCI Information Technology Index ETF (NYSEARCA:FTEC) was the recipient of a large growth in short interest during the month of May. As of May 29th, there was short interest totaling 1,002,279 shares, a growth of 786.2% from the May 14th total of 113,098 shares. Approximately 1.4% of the shares of the company are short sold. Based on an average daily volume of 304,399 shares, the days-to-cover ratio is currently 3.3 days.

Fidelity MSCI Information Technology Index ETF Stock Up 3.2%

Shares of Fidelity MSCI Information Technology Index ETF stock traded up $8.50 during midday trading on Thursday, hitting $276.93. The company had a trading volume of 357,411 shares, compared to its average volume of 433,794. The stock has a market cap of $20.13 billion, a price-to-earnings ratio of 35.45 and a beta of 1.34. The company has a fifty day simple moving average of $255.20 and a 200 day simple moving average of $233.52. Fidelity MSCI Information Technology Index ETF has a 12-month low of $184.88 and a 12-month high of $300.79.

Hedge Funds Weigh In On Fidelity MSCI Information Technology Index ETF

Institutional investors have recently bought and sold shares of the business. Financial Life Planners purchased a new position in Fidelity MSCI Information Technology Index ETF during the 3rd quarter worth approximately $25,000. Bessemer Group Inc. purchased a new position in Fidelity MSCI Information Technology Index ETF during the 3rd quarter worth approximately $26,000. Wealth Watch Advisors INC purchased a new position in Fidelity MSCI Information Technology Index ETF during the 3rd quarter worth approximately $30,000. Strategic Advocates LLC purchased a new position in Fidelity MSCI Information Technology Index ETF during the 3rd quarter worth approximately $31,000. Finally, Elyxium Wealth LLC purchased a new position in Fidelity MSCI Information Technology Index ETF during the 4th quarter worth approximately $37,000.

Fidelity MSCI Information Technology Index ETF Company Profile

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.