Fidelity MSCI Information Technology Index ETF (NYSEARCA:FTEC) Short Interest Down 85.6% in June

Fidelity MSCI Information Technology Index ETF (NYSEARCA:FTEC) was the target of a large decrease in short interest in June. As of June 15th, there was short interest totaling 144,764 shares, a decrease of 85.6% from the May 31st total of 1,002,279 shares. Based on an average daily trading volume, of 502,058 shares, the days-to-cover ratio is presently 0.3 days. Approximately 0.2% of the shares of the company are short sold.

Institutional Investors Weigh In On Fidelity MSCI Information Technology Index ETF

Large investors have recently added to or reduced their stakes in the stock. Financial Life Planners bought a new position in Fidelity MSCI Information Technology Index ETF in the third quarter worth $25,000. Wealth Watch Advisors INC acquired a new position in Fidelity MSCI Information Technology Index ETF in the third quarter valued at about $30,000. Strategic Advocates LLC acquired a new stake in Fidelity MSCI Information Technology Index ETF during the 3rd quarter worth $31,000. Elyxium Wealth LLC bought a new stake in shares of Fidelity MSCI Information Technology Index ETF during the fourth quarter worth $37,000. Finally, SouthState Bank Corp acquired a new stake in shares of Fidelity MSCI Information Technology Index ETF in the fourth quarter valued at approximately $50,000.

Fidelity MSCI Information Technology Index ETF Trading Down 1.2%

Shares of NYSEARCA FTEC traded down $3.37 during mid-day trading on Friday, reaching $272.48. The company had a trading volume of 317,229 shares, compared to its average volume of 427,793. The stock has a market cap of $19.81 billion, a PE ratio of 35.45 and a beta of 1.34. Fidelity MSCI Information Technology Index ETF has a 1-year low of $193.87 and a 1-year high of $300.79. The company has a 50-day moving average price of $270.05 and a two-hundred day moving average price of $238.23.

About Fidelity MSCI Information Technology Index ETF

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.