Short Interest in Fidelity MSCI Information Technology Index ETF (NYSEARCA:FTEC) Drops By 60.2%

Fidelity MSCI Information Technology Index ETF (NYSEARCA:FTEC) was the recipient of a large decline in short interest during the month of February. As of February 13th, there was short interest totaling 56,472 shares, a decline of 60.2% from the January 29th total of 141,830 shares. Currently, 0.1% of the shares of the company are short sold. Based on an average trading volume of 416,000 shares, the short-interest ratio is currently 0.1 days. Based on an average trading volume of 416,000 shares, the short-interest ratio is currently 0.1 days. Currently, 0.1% of the shares of the company are short sold.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Founders Financial Alliance LLC boosted its holdings in 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 purchasing an additional 49 shares during the period. Smithfield Trust Co raised its position in shares of Fidelity MSCI Information Technology Index ETF by 2.1% during the fourth quarter. Smithfield Trust Co now owns 2,425 shares of the company’s stock valued at $544,000 after buying an additional 50 shares during the last quarter. Instrumental Wealth LLC raised its position in shares of Fidelity MSCI Information Technology Index ETF by 1.8% during the third quarter. Instrumental Wealth LLC now owns 2,928 shares of the company’s stock valued at $691,000 after buying an additional 52 shares during the last quarter. OMNI 360 Wealth Inc. lifted its stake in shares of Fidelity MSCI Information Technology Index ETF by 2.8% in the third quarter. OMNI 360 Wealth Inc. now owns 1,952 shares of the company’s stock valued at $434,000 after buying an additional 53 shares during the period. Finally, Global Retirement Partners LLC lifted its stake in shares of Fidelity MSCI Information Technology Index ETF by 2.9% in the third quarter. Global Retirement Partners LLC now owns 1,892 shares of the company’s stock valued at $420,000 after buying an additional 54 shares during the period.

Fidelity MSCI Information Technology Index ETF Stock Performance

Shares of NYSEARCA:FTEC traded down $4.24 during midday trading on Friday, hitting $216.55. The company’s stock had a trading volume of 473,323 shares, compared to its average volume of 418,108. The stock’s 50 day simple moving average is $223.95 and its 200 day simple moving average is $221.82. The stock has a market capitalization of $15.81 billion, a price-to-earnings ratio of 35.45 and a beta of 1.24. Fidelity MSCI Information Technology Index ETF has a fifty-two week low of $134.11 and a fifty-two week high of $240.25.

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.