Short Interest in Fidelity MSCI Communication Services Index ETF (NYSEARCA:FCOM) Increases By 74.9%

Fidelity MSCI Communication Services Index ETF (NYSEARCA:FCOM) saw a significant increase in short interest in the month of April. As of April 30th, there was short interest totaling 66,987 shares, an increase of 74.9% from the April 15th total of 38,290 shares. Based on an average daily trading volume, of 108,129 shares, the days-to-cover ratio is currently 0.6 days. Currently, 0.3% of the company’s shares are short sold.

Fidelity MSCI Communication Services Index ETF Price Performance

NYSEARCA FCOM opened at $73.60 on Wednesday. The company has a 50 day simple moving average of $71.86 and a 200-day simple moving average of $72.02. The firm has a market capitalization of $1.74 billion, a price-to-earnings ratio of 19.08 and a beta of 1.06. Fidelity MSCI Communication Services Index ETF has a 52-week low of $59.12 and a 52-week high of $75.94.

Institutional Trading of Fidelity MSCI Communication Services Index ETF

A number of hedge funds have recently made changes to their positions in the stock. Harel Insurance Investments & Financial Services Ltd. lifted its position in shares of Fidelity MSCI Communication Services Index ETF by 5.2% in the first quarter. Harel Insurance Investments & Financial Services Ltd. now owns 3,145,739 shares of the company’s stock worth $214,288,000 after purchasing an additional 155,067 shares in the last quarter. Lido Advisors LLC lifted its position in shares of Fidelity MSCI Communication Services Index ETF by 10.4% in the third quarter. Lido Advisors LLC now owns 2,062,288 shares of the company’s stock worth $146,361,000 after purchasing an additional 194,559 shares in the last quarter. AGF Management Ltd. lifted its position in shares of Fidelity MSCI Communication Services Index ETF by 3.6% in the third quarter. AGF Management Ltd. now owns 654,982 shares of the company’s stock worth $46,484,000 after purchasing an additional 22,707 shares in the last quarter. Vicus Capital lifted its position in shares of Fidelity MSCI Communication Services Index ETF by 4.2% in the fourth quarter. Vicus Capital now owns 362,496 shares of the company’s stock worth $26,564,000 after purchasing an additional 14,451 shares in the last quarter. Finally, Commonwealth Equity Services LLC lifted its position in shares of Fidelity MSCI Communication Services Index ETF by 0.6% in the fourth quarter. Commonwealth Equity Services LLC now owns 297,696 shares of the company’s stock worth $21,815,000 after purchasing an additional 1,822 shares in the last quarter.

About Fidelity MSCI Communication Services Index ETF

The Fidelity MSCI Communication Services Index ETF (FCOM) is an exchange-traded fund that mostly invests in communication services equity. The fund tracks a market-cap-weighted index of stocks in the US communication services sector. FCOM was launched on Oct 21, 2013 and is managed by Fidelity.