Fidelity MSCI Utilities Index ETF (NYSEARCA:FUTY) Sees Large Volume Increase – Still a Buy?

Fidelity MSCI Utilities Index ETF (NYSEARCA:FUTY) shares saw an uptick in trading volume on Tuesday . 897,719 shares changed hands during trading, an increase of 166% from the previous session’s volume of 337,022 shares.The stock last traded at $56.92 and had previously closed at $57.18.

Fidelity MSCI Utilities Index ETF Trading Down 0.5%

The firm has a market cap of $2.32 billion, a price-to-earnings ratio of 20.34 and a beta of 0.59. The firm’s 50-day moving average is $58.05 and its 200-day moving average is $58.42.

Institutional Investors Weigh In On Fidelity MSCI Utilities Index ETF

Hedge funds and other institutional investors have recently made changes to their positions in the business. Smith Salley Wealth Management grew its holdings in Fidelity MSCI Utilities Index ETF by 1.3% during the 1st quarter. Smith Salley Wealth Management now owns 13,635 shares of the company’s stock valued at $805,000 after buying an additional 170 shares in the last quarter. Global Financial Private Client LLC lifted its holdings in shares of Fidelity MSCI Utilities Index ETF by 1.9% in the first quarter. Global Financial Private Client LLC now owns 11,180 shares of the company’s stock worth $660,000 after buying an additional 209 shares in the last quarter. D.A. Davidson & CO. lifted its holdings in shares of Fidelity MSCI Utilities Index ETF by 4.5% in the first quarter. D.A. Davidson & CO. now owns 5,400 shares of the company’s stock worth $319,000 after buying an additional 233 shares in the last quarter. Valmark Advisers Inc. boosted its position in shares of Fidelity MSCI Utilities Index ETF by 0.3% in the first quarter. Valmark Advisers Inc. now owns 91,376 shares of the company’s stock valued at $5,398,000 after acquiring an additional 241 shares during the period. Finally, Kestra Private Wealth Services LLC grew its holdings in shares of Fidelity MSCI Utilities Index ETF by 5.5% during the first quarter. Kestra Private Wealth Services LLC now owns 4,707 shares of the company’s stock worth $278,000 after purchasing an additional 245 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.