Fidelity MSCI Information Technology Index ETF (NYSEARCA:FTEC) Short Interest Down 36.8% in August

Fidelity MSCI Information Technology Index ETF (NYSEARCA:FTEC) saw a significant decrease in short interest during the month of August. As of August 14th, there was short interest totaling 139,032 shares, a decrease of 36.8% from the July 30th total of 220,017 shares. Based on an average trading volume of 308,914 shares, the short-interest ratio is presently 0.5 days. Currently, 0.2% of the company’s stock are sold short.

Fidelity MSCI Information Technology Index ETF Stock Performance

NYSEARCA:FTEC traded up $0.39 during mid-day trading on Wednesday, hitting $284.07. 26,838 shares of the company’s stock traded hands, compared to its average volume of 383,028. The company has a market capitalization of $20.88 billion, a P/E ratio of 35.45 and a beta of 1.34. Fidelity MSCI Information Technology Index ETF has a twelve month low of $198.17 and a twelve month high of $300.79. The company has a fifty day moving average of $279.38 and a 200 day moving average of $256.29.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. Strengthening Families & Communities LLC grew its position in shares of Fidelity MSCI Information Technology Index ETF by 2.5% during the 2nd quarter. Strengthening Families & Communities LLC now owns 1,520 shares of the company’s stock valued at $434,000 after acquiring an additional 37 shares during the period. Eley Financial Management Inc raised its stake in shares of Fidelity MSCI Information Technology Index ETF by 0.3% in the 1st quarter. Eley Financial Management Inc now owns 15,409 shares of the company’s stock valued at $3,206,000 after acquiring an additional 41 shares during the period. Walkner Condon Financial Advisors LLC increased its stake in Fidelity MSCI Information Technology Index ETF by 5.1% during the 1st quarter. Walkner Condon Financial Advisors LLC now owns 969 shares of the company’s stock worth $202,000 after buying an additional 47 shares during the period. Founders Financial Alliance LLC boosted its stake in shares of Fidelity MSCI Information Technology Index ETF by 2.0% in the 4th quarter. Founders Financial Alliance LLC now owns 2,487 shares of the company’s stock valued at $559,000 after buying an additional 49 shares during the period. Finally, Smithfield Trust Co lifted its holdings in Fidelity MSCI Information Technology Index ETF by 2.1% during the 4th quarter. Smithfield Trust Co now owns 2,425 shares of the company’s stock worth $544,000 after buying an additional 50 shares during the last quarter.

About Fidelity MSCI Information Technology Index ETF

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.