Fidelity MSCI Materials Index ETF (NYSEARCA:FMAT) Sees Large Increase in Short Interest

Fidelity MSCI Materials Index ETF (NYSEARCA:FMAT) was the target of a large increase in short interest during the month of July. As of July 31st, there was short interest totaling 18,940 shares, an increase of 57.1% from the July 15th total of 12,053 shares. Based on an average daily volume of 37,197 shares, the days-to-cover ratio is presently 0.5 days. Approximately 0.2% of the shares of the stock are short sold.

Fidelity MSCI Materials Index ETF Stock Down 0.3%

Shares of Fidelity MSCI Materials Index ETF stock opened at $59.98 on Tuesday. The stock has a market capitalization of $605.80 million, a P/E ratio of 23.26 and a beta of 0.97. The company has a 50-day simple moving average of $58.81 and a 200 day simple moving average of $59.11. Fidelity MSCI Materials Index ETF has a 12-month low of $48.76 and a 12-month high of $62.84.

Institutional Trading of Fidelity MSCI Materials Index ETF

Several large investors have recently added to or reduced their stakes in FMAT. Maxele Advisors LLC raised its stake in shares of Fidelity MSCI Materials Index ETF by 1.5% in the fourth quarter. Maxele Advisors LLC now owns 15,703 shares of the company’s stock valued at $834,000 after acquiring an additional 226 shares during the last quarter. Smith Salley Wealth Management grew its position in Fidelity MSCI Materials Index ETF by 1.7% during the 1st quarter. Smith Salley Wealth Management now owns 13,748 shares of the company’s stock worth $792,000 after acquiring an additional 228 shares during the last quarter. Meridian Wealth Management LLC grew its position in Fidelity MSCI Materials Index ETF by 6.1% during the 4th quarter. Meridian Wealth Management LLC now owns 4,268 shares of the company’s stock worth $227,000 after acquiring an additional 246 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its holdings in Fidelity MSCI Materials Index ETF by 33.5% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,404 shares of the company’s stock valued at $70,000 after purchasing an additional 352 shares in the last quarter. Finally, Sunbelt Securities Inc. boosted its stake in Fidelity MSCI Materials Index ETF by 1.4% in the fourth quarter. Sunbelt Securities Inc. now owns 30,907 shares of the company’s stock worth $1,641,000 after purchasing an additional 414 shares in the last quarter.

Fidelity MSCI Materials Index ETF Company Profile

The Fidelity MSCI Materials Index ETF (FMAT) is an exchange-traded fund that is based on the MSCI USA IMI Materials 25\u002F50 index, a market-cap-weighted index of stocks in the US basic materials sector across the entire market-cap spectrum. FMAT was launched on Oct 21, 2013 and is managed by Fidelity.