Short Interest in Fidelity MSCI Communication Services Index ETF (NYSEARCA:FCOM) Drops By 48.2%

Fidelity MSCI Communication Services Index ETF (NYSEARCA:FCOM) was the recipient of a large drop in short interest during the month of April. As of April 15th, there was short interest totaling 38,290 shares, a drop of 48.2% from the March 31st total of 73,964 shares. Currently, 0.2% of the company’s shares are sold short. Based on an average daily trading volume, of 128,327 shares, the days-to-cover ratio is presently 0.3 days.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Simplex Trading LLC lifted its stake in Fidelity MSCI Communication Services Index ETF by 80.9% during the fourth quarter. Simplex Trading LLC now owns 360 shares of the company’s stock worth $26,000 after purchasing an additional 161 shares in the last quarter. Private Trust Co. NA lifted its stake in Fidelity MSCI Communication Services Index ETF by 1,737.5% during the third quarter. Private Trust Co. NA now owns 441 shares of the company’s stock worth $31,000 after purchasing an additional 417 shares in the last quarter. Russell Investments Group Ltd. lifted its stake in Fidelity MSCI Communication Services Index ETF by 170.9% during the third quarter. Russell Investments Group Ltd. now owns 512 shares of the company’s stock worth $36,000 after purchasing an additional 323 shares in the last quarter. Larson Financial Group LLC acquired a new position in Fidelity MSCI Communication Services Index ETF during the third quarter worth $41,000. Finally, Global Retirement Partners LLC raised its stake in shares of Fidelity MSCI Communication Services Index ETF by 286.7% in the fourth quarter. Global Retirement Partners LLC now owns 727 shares of the company’s stock valued at $53,000 after acquiring an additional 539 shares in the last quarter.

Fidelity MSCI Communication Services Index ETF Price Performance

FCOM traded down $0.16 on Wednesday, reaching $73.55. 66,476 shares of the stock were exchanged, compared to its average volume of 146,825. Fidelity MSCI Communication Services Index ETF has a fifty-two week low of $54.31 and a fifty-two week high of $75.94. The company’s 50-day moving average price is $71.34 and its 200 day moving average price is $71.70. The firm has a market capitalization of $1.74 billion, a PE ratio of 19.08 and a beta of 1.07.

Fidelity MSCI Communication Services Index ETF Company Profile

The Fidelity MSCI Communication Services Index ETF (FCOM) is an exchange-traded fund that mostly invests in communication services equity. The fund tracks a market-cap-weighted index of stocks in the US communication services sector. FCOM was launched on Oct 21, 2013 and is managed by Fidelity.