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

Fidelity MSCI Information Technology Index ETF (NYSEARCA:FTEC) saw a large increase in short interest in September. As of September 30th, there was short interest totaling 371,323 shares, an increase of 139.9% from the September 15th total of 154,779 shares. Approximately 0.5% of the company’s shares are short sold. Based on an average daily volume of 253,914 shares, the short-interest ratio is currently 1.5 days.

Hedge Funds Weigh In On Fidelity MSCI Information Technology Index ETF

Several institutional investors and hedge funds have recently modified their holdings of the company. Lido Advisors LLC grew its stake in Fidelity MSCI Information Technology Index ETF by 3.6% in the 1st quarter. Lido Advisors LLC now owns 2,175,818 shares of the company’s stock worth $452,679,000 after acquiring an additional 75,631 shares during the period. Independence Financial Advisors LLC raised its holdings in Fidelity MSCI Information Technology Index ETF by 6.6% in the 3rd quarter. Independence Financial Advisors LLC now owns 150,522 shares of the company’s stock valued at $45,166,000 after acquiring an additional 9,259 shares during the last quarter. Kestra Advisory Services LLC raised its holdings in Fidelity MSCI Information Technology Index ETF by 6.1% in the 1st quarter. Kestra Advisory Services LLC now owns 183,454 shares of the company’s stock valued at $38,168,000 after acquiring an additional 10,516 shares during the last quarter. Morningstar Investment Management LLC lifted its stake in shares of Fidelity MSCI Information Technology Index ETF by 24.0% during the 1st quarter. Morningstar Investment Management LLC now owns 117,953 shares of the company’s stock worth $24,540,000 after purchasing an additional 22,808 shares during the period. Finally, Marotta Asset Management lifted its stake in shares of Fidelity MSCI Information Technology Index ETF by 4.8% during the 3rd quarter. Marotta Asset Management now owns 75,679 shares of the company’s stock worth $22,708,000 after purchasing an additional 3,494 shares during the period.

Fidelity MSCI Information Technology Index ETF Trading Down 2.9%

Shares of Fidelity MSCI Information Technology Index ETF stock traded down $8.71 during mid-day trading on Wednesday, hitting $293.08. 316,328 shares of the stock were exchanged, compared to its average volume of 363,482. Fidelity MSCI Information Technology Index ETF has a twelve month low of $198.17 and a twelve month high of $311.83. The stock has a market capitalization of $21.63 billion, a price-to-earnings ratio of 35.45 and a beta of 1.34. The company has a 50-day simple moving average of $292.21 and a 200 day simple moving average of $273.00.

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.