Fidelity MSCI Materials Index ETF (NYSEARCA:FMAT – Get Free Report) was the recipient of a large decrease in short interest in the month of June. As of June 15th, there was short interest totaling 21,139 shares, a decrease of 53.8% from the May 31st total of 45,799 shares. Approximately 0.2% of the company’s shares are sold short. Based on an average trading volume of 42,535 shares, the days-to-cover ratio is currently 0.5 days.
Institutional Inflows and Outflows
Several large investors have recently bought and sold shares of the stock. Wealth Alliance Advisory Group LLC acquired a new stake in shares of Fidelity MSCI Materials Index ETF in the fourth quarter valued at about $1,393,000. Lido Advisors LLC raised its position in shares of Fidelity MSCI Materials Index ETF by 8.7% during the third quarter. Lido Advisors LLC now owns 623,248 shares of the company’s stock worth $32,677,000 after acquiring an additional 49,681 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted its stake in shares of Fidelity MSCI Materials Index ETF by 23,517.9% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 334,902 shares of the company’s stock worth $17,787,000 after acquiring an additional 333,484 shares during the period. Kovitz Investment Group Partners LLC lifted its stake in shares of Fidelity MSCI Materials Index ETF by 83.4% in the fourth quarter. Kovitz Investment Group Partners LLC now owns 96,473 shares of the company’s stock worth $5,124,000 after acquiring an additional 43,872 shares during the period. Finally, Mach 1 Financial Group LLC bought a new stake in Fidelity MSCI Materials Index ETF in the fourth quarter valued at approximately $1,609,000.
Fidelity MSCI Materials Index ETF Stock Performance
Shares of NYSEARCA:FMAT traded down $0.04 during mid-day trading on Wednesday, reaching $58.47. 53,623 shares of the company’s stock were exchanged, compared to its average volume of 58,792. The firm has a market capitalization of $596.39 million, a price-to-earnings ratio of 23.26 and a beta of 0.96. The business’s fifty day moving average price is $59.31 and its 200-day moving average price is $58.35. Fidelity MSCI Materials Index ETF has a twelve month low of $48.76 and a twelve month high of $62.84.
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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