Fidelity MSCI Utilities Index ETF (NYSEARCA:FUTY) Reaches New 12-Month Low – Time to Sell?

Fidelity MSCI Utilities Index ETF (NYSEARCA:FUTY) hit a new 52-week low on Monday . The company traded as low as $52.73 and last traded at $52.7820, with a volume of 236069 shares trading hands. The stock had previously closed at $52.75.

Fidelity MSCI Utilities Index ETF Price Performance

The firm has a market capitalization of $2.14 billion, a PE ratio of 20.34 and a beta of 0.58. The business’s 50-day moving average price is $56.48 and its 200-day moving average price is $57.93.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of FUTY. Bank of America Corp DE boosted its stake in shares of Fidelity MSCI Utilities Index ETF by 0.9% during the first quarter. Bank of America Corp DE now owns 9,170,828 shares of the company’s stock worth $541,721,000 after buying an additional 77,710 shares during the period. Kestra Advisory Services LLC increased its holdings in shares of Fidelity MSCI Utilities Index ETF by 13.7% in the first quarter. Kestra Advisory Services LLC now owns 552,635 shares of the company’s stock valued at $32,644,000 after purchasing an additional 66,524 shares during the period. Cetera Investment Advisers raised its stake in shares of Fidelity MSCI Utilities Index ETF by 29.9% during the first quarter. Cetera Investment Advisers now owns 250,627 shares of the company’s stock worth $14,805,000 after purchasing an additional 57,657 shares during the last quarter. HighTower Advisors LLC lifted its holdings in shares of Fidelity MSCI Utilities Index ETF by 9.7% during the fourth quarter. HighTower Advisors LLC now owns 199,286 shares of the company’s stock worth $11,005,000 after purchasing an additional 17,609 shares during the period. Finally, Apollon Wealth Management LLC lifted its holdings in shares of Fidelity MSCI Utilities Index ETF by 8.2% during the first quarter. Apollon Wealth Management LLC now owns 141,953 shares of the company’s stock worth $8,385,000 after purchasing an additional 10,770 shares during the period.

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.