Short Interest in Fidelity MSCI Information Technology Index ETF (NYSEARCA:FTEC) Increases By 61.1%

Fidelity MSCI Information Technology Index ETF (NYSEARCA:FTEC) saw a significant growth in short interest during the month of October. As of October 15th, there was short interest totaling 276,700 shares, a growth of 61.1% from the September 30th total of 171,800 shares. Approximately 0.4% of the shares of the stock are sold short. Based on an average daily volume of 275,300 shares, the short-interest ratio is currently 1.0 days. Based on an average daily volume of 275,300 shares, the short-interest ratio is currently 1.0 days. Approximately 0.4% of the shares of the stock are sold short.

Hedge Funds Weigh In On Fidelity MSCI Information Technology Index ETF

Several hedge funds have recently added to or reduced their stakes in the company. Lido Advisors LLC boosted its holdings in Fidelity MSCI Information Technology Index ETF by 3.2% in 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. Commonwealth Equity Services LLC boosted its holdings in Fidelity MSCI Information Technology Index ETF by 8.8% in the third quarter. Commonwealth Equity Services LLC now owns 718,643 shares of the company’s stock valued at $159,661,000 after acquiring an additional 58,076 shares during the last quarter. Envestnet Asset Management Inc. boosted 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 acquiring an additional 127,232 shares during the last quarter. AGF Management Ltd. boosted its holdings in Fidelity MSCI Information Technology Index ETF by 1.5% in the second quarter. AGF Management Ltd. now owns 617,076 shares of the company’s stock valued at $121,700,000 after acquiring an additional 9,114 shares during the last quarter. Finally, LPL Financial LLC boosted its holdings in Fidelity MSCI Information Technology Index ETF by 3.9% in the first quarter. LPL Financial LLC now owns 403,813 shares of the company’s stock valued at $65,123,000 after acquiring an additional 15,205 shares during the last quarter.

Fidelity MSCI Information Technology Index ETF Stock Performance

Shares of FTEC stock opened at $237.29 on Tuesday. The stock’s fifty day moving average is $220.77 and its 200-day moving average is $200.37. The stock has a market capitalization of $17.44 billion, a PE ratio of 35.45 and a beta of 1.24. Fidelity MSCI Information Technology Index ETF has a 52 week low of $134.11 and a 52 week high of $240.25.

Fidelity MSCI Information Technology Index ETF Company Profile

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.