Short Interest in Fidelity MSCI Information Technology Index ETF (NYSEARCA:FTEC) Drops By 29.0%

Fidelity MSCI Information Technology Index ETF (NYSEARCA:FTEC) saw a large drop in short interest in September. As of September 15th, there was short interest totaling 115,800 shares, a drop of 29.0% from the August 31st total of 163,100 shares. Based on an average trading volume of 274,100 shares, the days-to-cover ratio is currently 0.4 days. Based on an average trading volume of 274,100 shares, the days-to-cover ratio is currently 0.4 days.

Institutional Investors Weigh In On Fidelity MSCI Information Technology Index ETF

Several hedge funds have recently added to or reduced their stakes in FTEC. Lido Advisors LLC raised its stake in shares of Fidelity MSCI Information Technology Index ETF by 3.2% during the second quarter. Lido Advisors LLC now owns 2,092,518 shares of the company’s stock valued at $412,687,000 after acquiring an additional 64,807 shares during the last quarter. Envestnet Asset Management Inc. increased its holdings in Fidelity MSCI Information Technology Index ETF by 23.9% in the second quarter. Envestnet Asset Management Inc. now owns 659,540 shares of the company’s stock valued at $130,074,000 after purchasing an additional 127,232 shares during the period. AGF Management Ltd. raised its position in Fidelity MSCI Information Technology Index ETF by 1.5% during the 2nd quarter. AGF Management Ltd. now owns 617,076 shares of the company’s stock worth $121,700,000 after purchasing an additional 9,114 shares during the last quarter. LPL Financial LLC lifted its holdings in Fidelity MSCI Information Technology Index ETF by 3.9% during the 1st quarter. LPL Financial LLC now owns 403,813 shares of the company’s stock worth $65,123,000 after buying an additional 15,205 shares during the period. Finally, Northwestern Mutual Wealth Management Co. lifted its holdings in Fidelity MSCI Information Technology Index ETF by 26.6% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 292,925 shares of the company’s stock worth $57,771,000 after buying an additional 61,522 shares during the period.

Fidelity MSCI Information Technology Index ETF Trading Down 0.3%

Fidelity MSCI Information Technology Index ETF stock opened at $224.99 on Monday. The stock has a 50-day moving average price of $211.35 and a two-hundred day moving average price of $189.50. Fidelity MSCI Information Technology Index ETF has a 12 month low of $134.11 and a 12 month high of $227.13. The company has a market capitalization of $16.36 billion, a PE ratio of 35.45 and a beta of 1.16.

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.