Fidelity MSCI Communication Services Index ETF (NYSEARCA:FCOM) Stock Short Interest Drops 34.1%

Fidelity MSCI Communication Services Index ETF (NYSEARCA:FCOM) was the target of a significant drop in short interest in October. As of October 15th, there was short interest totaling 49,045 shares, a drop of 34.1% from the September 30th total of 74,389 shares. Based on an average daily trading volume, of 181,835 shares, the days-to-cover ratio is presently 0.3 days. Currently, 0.2% of the company’s stock are sold short.

Institutional Investors Weigh In On Fidelity MSCI Communication Services Index ETF

A number of institutional investors have recently modified their holdings of the stock. Crumly & Associates Inc. raised its holdings in shares of Fidelity MSCI Communication Services Index ETF by 20.2% during the third quarter. Crumly & Associates Inc. now owns 169,314 shares of the company’s stock valued at $12,192,000 after acquiring an additional 28,464 shares during the period. Vertex Investment Solutions Co. Ltd. acquired a new stake in Fidelity MSCI Communication Services Index ETF during the 2nd quarter valued at $6,268,000. American National Bank & Trust acquired a new stake in Fidelity MSCI Communication Services Index ETF during the 3rd quarter valued at $1,714,000. Independence Financial Advisors LLC raised its stake in Fidelity MSCI Communication Services Index ETF by 4.1% during the 3rd quarter. Independence Financial Advisors LLC now owns 193,054 shares of the company’s stock valued at $13,902,000 after purchasing an additional 7,616 shares during the period. Finally, Navellier & Associates Inc. purchased a new stake in shares of Fidelity MSCI Communication Services Index ETF in the second quarter valued at $3,141,000.

Fidelity MSCI Communication Services Index ETF Price Performance

Shares of NYSEARCA:FCOM traded up $0.88 during midday trading on Tuesday, reaching $65.60. The company had a trading volume of 165,077 shares, compared to its average volume of 203,138. The stock has a market capitalization of $1.53 billion, a P/E ratio of 19.08 and a beta of 1.04. The stock’s fifty day moving average price is $71.19 and its 200-day moving average price is $71.58. Fidelity MSCI Communication Services Index ETF has a one year low of $64.24 and a one year high of $75.94.

Fidelity MSCI Communication Services Index ETF Company Profile

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.