Fidelity MSCI Utilities Index ETF (NYSEARCA:FUTY) Sees Large Decline in Short Interest

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

Fidelity MSCI Utilities Index ETF Price Performance

FUTY stock opened at $56.94 on Friday. Fidelity MSCI Utilities Index ETF has a 1-year low of $51.50 and a 1-year high of $61.51. The business has a fifty day moving average price of $58.71 and a 200-day moving average price of $57.79. The stock has a market capitalization of $2.32 billion, a P/E ratio of 20.34 and a beta of 0.60.

Institutional Trading of Fidelity MSCI Utilities Index ETF

Large investors have recently modified their holdings of the company. Bayban bought a new stake in shares of Fidelity MSCI Utilities Index ETF in the fourth quarter worth $26,000. Elyxium Wealth LLC bought a new stake in shares of Fidelity MSCI Utilities Index ETF in the fourth quarter worth $30,000. Atlantic Union Bankshares Corp bought a new stake in shares of Fidelity MSCI Utilities Index ETF in the third quarter worth $39,000. First Horizon Corp bought a new stake in shares of Fidelity MSCI Utilities Index ETF in the fourth quarter worth $42,000. Finally, Motiv8 Investments LLC bought a new stake in shares of Fidelity MSCI Utilities Index ETF in the fourth quarter worth $75,000.

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.