Fidelity MSCI Materials Index ETF (NYSEARCA:FMAT – Get Free Report) saw a large decline in short interest during the month of May. As of May 15th, there was short interest totaling 32,655 shares, a decline of 65.3% from the April 30th total of 94,108 shares. Approximately 0.3% of the shares of the stock are sold short. Based on an average trading volume of 37,179 shares, the short-interest ratio is presently 0.9 days.
Fidelity MSCI Materials Index ETF Stock Performance
Shares of FMAT traded down $0.17 during midday trading on Friday, hitting $59.51. 33,911 shares of the company traded hands, compared to its average volume of 57,312. The stock has a market cap of $607.00 million, a price-to-earnings ratio of 23.26 and a beta of 0.97. The firm has a 50 day moving average of $58.77 and a 200-day moving average of $57.00. Fidelity MSCI Materials Index ETF has a 52 week low of $48.33 and a 52 week high of $62.84.
Hedge Funds Weigh In On Fidelity MSCI Materials Index ETF
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in FMAT. Jones Financial Companies Lllp boosted its position in shares of Fidelity MSCI Materials Index ETF by 1,778.8% during the 1st quarter. Jones Financial Companies Lllp now owns 2,480 shares of the company’s stock valued at $124,000 after acquiring an additional 2,348 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in Fidelity MSCI Materials Index ETF by 1.2% during the first quarter. Goldman Sachs Group Inc. now owns 50,589 shares of the company’s stock valued at $2,444,000 after purchasing an additional 589 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its position in Fidelity MSCI Materials Index ETF by 33.5% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,404 shares of the company’s stock valued at $70,000 after purchasing an additional 352 shares during the last quarter. Qube Research & Technologies Ltd bought a new position in Fidelity MSCI Materials Index ETF during the second quarter valued at $91,000. Finally, Bank of America Corp DE grew its stake in shares of Fidelity MSCI Materials Index ETF by 13.2% in the 2nd quarter. Bank of America Corp DE now owns 19,874 shares of the company’s stock worth $991,000 after buying an additional 2,319 shares in the last quarter.
About Fidelity MSCI Materials Index ETF
The Fidelity MSCI Materials Index ETF (FMAT) is an exchange-traded fund that is based on the MSCI USA IMI Materials 25\u002F50 index, a market-cap-weighted index of stocks in the US basic materials sector across the entire market-cap spectrum. FMAT was launched on Oct 21, 2013 and is managed by Fidelity.
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