Fidelity MSCI Materials Index ETF (NYSEARCA:FMAT) Short Interest Update

Fidelity MSCI Materials Index ETF (NYSEARCA:FMAT) was the recipient of a large decline in short interest in May. As of May 15th, there was short interest totaling 32,655 shares, a decline of 65.3% from the April 30th total of 94,108 shares. Based on an average daily trading volume, of 37,179 shares, the short-interest ratio is currently 0.9 days. Approximately 0.3% of the shares of the company are sold short.

Fidelity MSCI Materials Index ETF Stock Down 0.3%

NYSEARCA:FMAT traded down $0.17 during trading hours on Friday, hitting $59.51. 33,911 shares of the stock traded hands, compared to its average volume of 57,312. The company has a market cap of $607.00 million, a price-to-earnings ratio of 23.26 and a beta of 0.97. Fidelity MSCI Materials Index ETF has a 1 year low of $48.33 and a 1 year high of $62.84. The stock has a 50 day moving average price of $58.77 and a 200 day moving average price of $57.00.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. Atlantic Union Bankshares Corp bought a new stake in Fidelity MSCI Materials Index ETF during the third quarter valued at about $27,000. Flagship Harbor Advisors LLC purchased a new stake in shares of Fidelity MSCI Materials Index ETF during the fourth quarter worth about $35,000. Optima Capital LLC bought a new stake in Fidelity MSCI Materials Index ETF during the 4th quarter valued at approximately $40,000. Northwestern Mutual Wealth Management Co. lifted its holdings in Fidelity MSCI Materials Index ETF by 33.5% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,404 shares of the company’s stock worth $70,000 after purchasing an additional 352 shares in the last quarter. Finally, Motiv8 Investments LLC bought a new position in Fidelity MSCI Materials Index ETF in the 4th quarter worth approximately $83,000.

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.