Short Interest in Fidelity MSCI Communication Services Index ETF (NYSEARCA:FCOM) Increases By 189.7%

Fidelity MSCI Communication Services Index ETF (NYSEARCA:FCOM) was the target of a significant increase in short interest in the month of March. As of March 31st, there was short interest totaling 73,964 shares, an increase of 189.7% from the March 15th total of 25,534 shares. Based on an average trading volume of 93,039 shares, the short-interest ratio is currently 0.8 days. Approximately 0.3% of the company’s stock are sold short.

Fidelity MSCI Communication Services Index ETF Trading Up 0.6%

Shares of Fidelity MSCI Communication Services Index ETF stock traded up $0.41 during trading on Monday, reaching $71.73. The stock had a trading volume of 84,772 shares, compared to its average volume of 149,345. The company has a market capitalization of $1.70 billion, a price-to-earnings ratio of 19.08 and a beta of 1.07. The stock has a fifty day moving average price of $70.96 and a two-hundred day moving average price of $71.39. Fidelity MSCI Communication Services Index ETF has a 52 week low of $50.97 and a 52 week high of $75.94.

Hedge Funds Weigh In On Fidelity MSCI Communication Services Index ETF

A number of large investors have recently bought and sold shares of the company. Commonwealth Equity Services LLC grew its holdings in shares of Fidelity MSCI Communication Services Index ETF by 11.3% in the 3rd quarter. Commonwealth Equity Services LLC now owns 295,874 shares of the company’s stock valued at $20,998,000 after acquiring an additional 30,095 shares in the last quarter. AGF Management Ltd. raised its holdings in Fidelity MSCI Communication Services Index ETF by 3.6% during the third quarter. AGF Management Ltd. now owns 654,982 shares of the company’s stock worth $46,484,000 after acquiring an additional 22,707 shares in the last quarter. Independence Financial Advisors LLC boosted its position in Fidelity MSCI Communication Services Index ETF by 9.5% during the third quarter. Independence Financial Advisors LLC now owns 160,321 shares of the company’s stock valued at $11,378,000 after purchasing an additional 13,880 shares during the last quarter. Smith Shellnut Wilson LLC ADV acquired a new position in Fidelity MSCI Communication Services Index ETF during the third quarter valued at approximately $553,000. Finally, Lido Advisors LLC grew its stake in 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 valued at $146,361,000 after purchasing an additional 194,559 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.