Fidelity MSCI Financials Index ETF (NYSEARCA:FNCL) Sees Large Growth in Short Interest

Fidelity MSCI Financials Index ETF (NYSEARCA:FNCL) was the recipient of a significant growth in short interest in July. As of July 15th, there was short interest totaling 83,612 shares, a growth of 690.1% from the June 30th total of 10,582 shares. Based on an average daily trading volume, of 119,252 shares, the short-interest ratio is presently 0.7 days. Currently, 0.3% of the shares of the company are sold short.

Fidelity MSCI Financials Index ETF Stock Performance

Shares of FNCL stock opened at $80.22 on Monday. The company has a market capitalization of $2.35 billion, a P/E ratio of 17.73 and a beta of 0.90. The business’s 50 day moving average is $76.62 and its two-hundred day moving average is $74.82. Fidelity MSCI Financials Index ETF has a 12-month low of $67.76 and a 12-month high of $81.19.

Institutional Trading of Fidelity MSCI Financials Index ETF

Several large investors have recently made changes to their positions in the company. Mercer Global Advisors Inc. ADV lifted its holdings in shares of Fidelity MSCI Financials Index ETF by 3,442.3% in the third quarter. Mercer Global Advisors Inc. ADV now owns 274,140 shares of the company’s stock valued at $20,928,000 after purchasing an additional 266,401 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its stake in shares of Fidelity MSCI Financials Index ETF by 122.6% during the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 209,048 shares of the company’s stock worth $15,959,000 after purchasing an additional 115,117 shares in the last quarter. Kestra Advisory Services LLC increased its stake in shares of Fidelity MSCI Financials Index ETF by 45.4% during the 4th quarter. Kestra Advisory Services LLC now owns 206,622 shares of the company’s stock worth $16,063,000 after purchasing an additional 64,555 shares in the last quarter. Royal Bank of Canada raised its position in shares of Fidelity MSCI Financials Index ETF by 370.6% during the 1st quarter. Royal Bank of Canada now owns 79,882 shares of the company’s stock worth $5,608,000 after purchasing an additional 62,906 shares during the last quarter. Finally, Ameriprise Financial Inc. raised its position in shares of Fidelity MSCI Financials Index ETF by 120.4% during the 2nd quarter. Ameriprise Financial Inc. now owns 103,983 shares of the company’s stock worth $7,702,000 after purchasing an additional 56,806 shares during the last quarter.

Fidelity MSCI Financials Index ETF Company Profile

The Fidelity MSCI Financials Index ETF (FNCL) is an exchange-traded fund that is based on the MSCI USA IMI Financials 25\u002F50 index, a market-cap-weighted index of US financial companies across the entire market-cap spectrum. FNCL was launched on Oct 21, 2013 and is managed by Fidelity.