Fidelity MSCI Utilities Index ETF (NYSEARCA:FUTY) Sees Strong Trading Volume – Time to Buy?

Fidelity MSCI Utilities Index ETF (NYSEARCA:FUTY) shares saw unusually-strong trading volume on Wednesday . Approximately 493,029 shares changed hands during mid-day trading, an increase of 87% from the previous session’s volume of 263,111 shares.The stock last traded at $49.54 and had previously closed at $48.73.

Fidelity MSCI Utilities Index ETF Price Performance

The company’s 50 day simple moving average is $50.34 and its two-hundred day simple moving average is $49.38. The company has a market cap of $1.34 billion, a PE ratio of 22.79 and a beta of 0.50.

Institutional Investors Weigh In On Fidelity MSCI Utilities Index ETF

Several institutional investors and hedge funds have recently modified their holdings of FUTY. FLC Capital Advisors increased its stake in Fidelity MSCI Utilities Index ETF by 2.5% during the 3rd quarter. FLC Capital Advisors now owns 8,128 shares of the company’s stock worth $421,000 after buying an additional 200 shares during the period. Ellis Investment Partners LLC increased its position in shares of Fidelity MSCI Utilities Index ETF by 3.2% during the third quarter. Ellis Investment Partners LLC now owns 7,213 shares of the company’s stock worth $374,000 after acquiring an additional 222 shares during the period. Trail Ridge Investment Advisors LLC increased its position in shares of Fidelity MSCI Utilities Index ETF by 2.3% during the third quarter. Trail Ridge Investment Advisors LLC now owns 10,357 shares of the company’s stock worth $545,000 after acquiring an additional 233 shares during the period. Glen Eagle Advisors LLC raised its stake in shares of Fidelity MSCI Utilities Index ETF by 21.4% in the third quarter. Glen Eagle Advisors LLC now owns 1,604 shares of the company’s stock valued at $83,000 after acquiring an additional 283 shares in the last quarter. Finally, Maltin Wealth Management Inc. boosted its holdings in Fidelity MSCI Utilities Index ETF by 0.8% in the fourth quarter. Maltin Wealth Management Inc. now owns 41,578 shares of the company’s stock valued at $2,028,000 after purchasing an additional 331 shares during the period.

About Fidelity MSCI Utilities Index ETF

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.