Short Interest in Fidelity MSCI Communication Services Index ETF (NYSEARCA:FCOM) Grows By 74.9%

Fidelity MSCI Communication Services Index ETF (NYSEARCA:FCOM) saw a significant growth in short interest in April. As of April 30th, there was short interest totaling 66,987 shares, a growth of 74.9% from the April 15th total of 38,290 shares. Based on an average daily volume of 108,129 shares, the days-to-cover ratio is currently 0.6 days. Currently, 0.3% of the shares of the stock are sold short.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. Harel Insurance Investments & Financial Services Ltd. grew its holdings in shares of Fidelity MSCI Communication Services Index ETF by 5.2% during the first quarter. Harel Insurance Investments & Financial Services Ltd. now owns 3,145,739 shares of the company’s stock worth $214,288,000 after purchasing an additional 155,067 shares in the last quarter. Lido Advisors LLC boosted its stake in Fidelity MSCI Communication Services Index ETF by 10.4% in the third quarter. Lido Advisors LLC now owns 2,062,288 shares of the company’s stock worth $146,361,000 after buying an additional 194,559 shares in the last quarter. AGF Management Ltd. boosted its stake in Fidelity MSCI Communication Services Index ETF by 3.6% in the third quarter. AGF Management Ltd. now owns 654,982 shares of the company’s stock worth $46,484,000 after buying an additional 22,707 shares in the last quarter. Vicus Capital boosted its stake in Fidelity MSCI Communication Services Index ETF by 4.2% in the fourth quarter. Vicus Capital now owns 362,496 shares of the company’s stock worth $26,564,000 after buying an additional 14,451 shares in the last quarter. Finally, Commonwealth Equity Services LLC boosted its stake in Fidelity MSCI Communication Services Index ETF by 0.6% in the fourth quarter. Commonwealth Equity Services LLC now owns 297,696 shares of the company’s stock worth $21,815,000 after buying an additional 1,822 shares in the last quarter.

Fidelity MSCI Communication Services Index ETF Trading Up 1.2%

Shares of NYSEARCA FCOM traded up $0.86 during midday trading on Monday, hitting $74.80. 178,946 shares of the company’s stock were exchanged, compared to its average volume of 147,366. Fidelity MSCI Communication Services Index ETF has a 12-month low of $59.12 and a 12-month high of $75.94. The company has a market cap of $1.77 billion, a price-to-earnings ratio of 19.08 and a beta of 1.06. The business’s fifty day moving average price is $71.80 and its two-hundred day moving average price is $71.99.

Fidelity MSCI Communication Services Index ETF Company Profile

The Fidelity MSCI Communication Services Index ETF (FCOM) is an exchange-traded fund that mostly invests in communication services equity. The fund tracks a market-cap-weighted index of stocks in the US communication services sector. FCOM was launched on Oct 21, 2013 and is managed by Fidelity.