Fidelity MSCI Information Technology Index ETF (NYSEARCA:FTEC) Sees Significant Decrease in Short Interest

Fidelity MSCI Information Technology Index ETF (NYSEARCA:FTEC) was the recipient of a large drop in short interest during the month of April. As of April 30th, there was short interest totaling 123,674 shares, a drop of 53.4% from the April 15th total of 265,333 shares. Based on an average daily volume of 368,714 shares, the short-interest ratio is currently 0.3 days. Currently, 0.2% of the company’s shares are short sold.

Institutional Trading of Fidelity MSCI Information Technology Index ETF

Institutional investors have recently added to or reduced their stakes in the stock. PFG Advisors acquired a new stake in Fidelity MSCI Information Technology Index ETF in the 3rd quarter valued at approximately $22,364,000. Capital Investment Advisors LLC acquired a new position in shares of Fidelity MSCI Information Technology Index ETF in the fourth quarter worth $778,000. SteelPeak Wealth LLC grew its stake in shares of Fidelity MSCI Information Technology Index ETF by 3,622.3% in the fourth quarter. SteelPeak Wealth LLC now owns 107,724 shares of the company’s stock worth $24,202,000 after acquiring an additional 104,830 shares in the last quarter. Siligmueller & Norvid Wealth Advisors LLC acquired a new position in shares of Fidelity MSCI Information Technology Index ETF in the third quarter worth $607,000. Finally, Perennial Investment Advisors LLC acquired a new position in shares of Fidelity MSCI Information Technology Index ETF in the third quarter worth $580,000.

Fidelity MSCI Information Technology Index ETF Trading Down 1.6%

Fidelity MSCI Information Technology Index ETF stock traded down $4.39 during trading on Friday, hitting $270.56. The company had a trading volume of 275,915 shares, compared to its average volume of 437,838. Fidelity MSCI Information Technology Index ETF has a 1-year low of $175.39 and a 1-year high of $275.77. The company’s 50 day simple moving average is $229.89 and its 200-day simple moving average is $226.70. The stock has a market cap of $19.67 billion, a price-to-earnings ratio of 35.45 and a beta of 1.31.

Fidelity MSCI Information Technology Index ETF Company Profile

The Fidelity MSCI Information Technology Index ETF (FTEC) is an exchange-traded fund that mostly invests in information technology equity. The fund tracks a market-cap-weighted index of stocks in the broad US information technology sector. FTEC was launched on Oct 21, 2013 and is managed by Fidelity.