Fidelity MSCI Utilities Index ETF (NYSEARCA:FUTY) Sees Strong Trading Volume – Here’s Why

Fidelity MSCI Utilities Index ETF (NYSEARCA:FUTY) saw unusually-strong trading volume on Wednesday . Approximately 347,441 shares changed hands during mid-day trading, an increase of 3% from the previous session’s volume of 336,400 shares.The stock last traded at $58.38 and had previously closed at $58.04.

Fidelity MSCI Utilities Index ETF Stock Performance

The firm’s 50 day moving average price is $59.71 and its two-hundred day moving average price is $57.82. The firm has a market cap of $2.42 billion, a PE ratio of 20.34 and a beta of 0.66.

Institutional Trading of Fidelity MSCI Utilities Index ETF

Several institutional investors and hedge funds have recently made changes to their positions in the company. Northwestern Mutual Wealth Management Co. grew its stake in Fidelity MSCI Utilities Index ETF by 1,161.7% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 643,682 shares of the company’s stock worth $35,544,000 after buying an additional 592,663 shares during the last quarter. Orion Porfolio Solutions LLC grew its position in shares of Fidelity MSCI Utilities Index ETF by 1,318.8% during the second quarter. Orion Porfolio Solutions LLC now owns 472,118 shares of the company’s stock worth $24,833,000 after acquiring an additional 438,842 shares during the last quarter. AE Wealth Management LLC grew its position in shares of Fidelity MSCI Utilities Index ETF by 31.6% during the fourth quarter. AE Wealth Management LLC now owns 1,371,364 shares of the company’s stock worth $75,727,000 after acquiring an additional 329,549 shares during the last quarter. Bank of America Corp DE increased its holdings in shares of Fidelity MSCI Utilities Index ETF by 3.3% in the 3rd quarter. Bank of America Corp DE now owns 9,084,792 shares of the company’s stock valued at $513,018,000 after acquiring an additional 289,161 shares during the period. Finally, Independence Financial Advisors LLC increased its holdings in shares of Fidelity MSCI Utilities Index ETF by 2,625.7% in the 3rd quarter. Independence Financial Advisors LLC now owns 192,868 shares of the company’s stock valued at $10,891,000 after acquiring an additional 185,792 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.