Fidelity MSCI Utilities Index ETF (NYSEARCA:FUTY) Sees Large Volume Increase – Still a Buy?

Fidelity MSCI Utilities Index ETF (NYSEARCA:FUTY) saw an uptick in trading volume on Tuesday . 2,531,715 shares traded hands during trading, an increase of 741% from the previous session’s volume of 301,085 shares.The stock last traded at $59.78 and had previously closed at $59.76.

Fidelity MSCI Utilities Index ETF Stock Up 0.1%

The firm’s 50-day moving average is $59.49 and its 200-day moving average is $57.74. The company has a market cap of $2.49 billion, a PE ratio of 20.34 and a beta of 0.66.

Hedge Funds Weigh In On Fidelity MSCI Utilities Index ETF

Several hedge funds and other institutional investors have recently modified their holdings of FUTY. Flagship Harbor Advisors LLC boosted its stake in Fidelity MSCI Utilities Index ETF by 2.1% during the third quarter. Flagship Harbor Advisors LLC now owns 11,057 shares of the company’s stock worth $624,000 after acquiring an additional 226 shares in the last quarter. Axecap Investments LLC boosted its stake in Fidelity MSCI Utilities Index ETF by 1.6% during the third quarter. Axecap Investments LLC now owns 17,134 shares of the company’s stock worth $968,000 after acquiring an additional 266 shares in the last quarter. Rossby Financial LCC boosted its stake in Fidelity MSCI Utilities Index ETF by 4.9% during the third quarter. Rossby Financial LCC now owns 5,654 shares of the company’s stock worth $322,000 after acquiring an additional 266 shares in the last quarter. Heck Capital Advisors LLC boosted its stake in Fidelity MSCI Utilities Index ETF by 1.0% during the third quarter. Heck Capital Advisors LLC now owns 28,226 shares of the company’s stock worth $1,594,000 after acquiring an additional 286 shares in the last quarter. Finally, Kestra Private Wealth Services LLC boosted its stake in Fidelity MSCI Utilities Index ETF by 7.6% during the fourth quarter. Kestra Private Wealth Services LLC now owns 4,462 shares of the company’s stock worth $246,000 after acquiring an additional 314 shares in 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.