Fidelity MSCI Utilities Index ETF (NYSEARCA:FUTY) Short Interest Down 58.3% in May

Fidelity MSCI Utilities Index ETF (NYSEARCA:FUTY) was the target of a large drop in short interest in May. As of May 29th, there was short interest totaling 36,956 shares, a drop of 58.3% from the May 14th total of 88,723 shares. Based on an average trading volume of 290,922 shares, the short-interest ratio is presently 0.1 days. Approximately 0.1% of the shares of the company are short sold.

Fidelity MSCI Utilities Index ETF Stock Performance

Shares of FUTY stock opened at $56.89 on Friday. The stock’s 50 day simple moving average is $58.52 and its 200 day simple moving average is $57.78. Fidelity MSCI Utilities Index ETF has a twelve month low of $51.50 and a twelve month high of $61.51. The company has a market capitalization of $2.32 billion, a price-to-earnings ratio of 20.34 and a beta of 0.60.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the stock. NewEdge Advisors LLC raised its stake in shares of Fidelity MSCI Utilities Index ETF by 7.1% in the 1st quarter. NewEdge Advisors LLC now owns 73,751 shares of the company’s stock valued at $4,356,000 after acquiring an additional 4,901 shares in the last quarter. Western Wealth Management LLC raised its stake in shares of Fidelity MSCI Utilities Index ETF by 117.7% in the 1st quarter. Western Wealth Management LLC now owns 12,423 shares of the company’s stock valued at $734,000 after acquiring an additional 6,716 shares in the last quarter. Bank of America Corp DE raised its stake in shares of Fidelity MSCI Utilities Index ETF by 0.9% in the 1st quarter. Bank of America Corp DE now owns 9,170,828 shares of the company’s stock valued at $541,721,000 after acquiring an additional 77,710 shares in the last quarter. Centaurus Financial Inc. bought a new position in shares of Fidelity MSCI Utilities Index ETF in the 1st quarter valued at approximately $101,000. Finally, Royal Bank of Canada raised its stake in shares of Fidelity MSCI Utilities Index ETF by 21.0% in the 1st quarter. Royal Bank of Canada now owns 28,406 shares of the company’s stock valued at $1,678,000 after acquiring an additional 4,936 shares in the last quarter.

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.