Fidelity MSCI Materials Index ETF (NYSEARCA:FMAT – Get Free Report) was the target of a large increase in short interest in July. As of July 31st, there was short interest totaling 18,940 shares, an increase of 57.1% from the July 15th total of 12,053 shares. Currently, 0.2% of the shares of the stock are sold short. Based on an average daily trading volume, of 37,197 shares, the short-interest ratio is currently 0.5 days.
Hedge Funds Weigh In On Fidelity MSCI Materials Index ETF
A number of large investors have recently modified their holdings of FMAT. Trust Co. of Vermont acquired a new stake in shares of Fidelity MSCI Materials Index ETF in the second quarter valued at approximately $67,000. Northwestern Mutual Wealth Management Co. raised its position in Fidelity MSCI Materials Index ETF by 33.5% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,404 shares of the company’s stock worth $70,000 after purchasing an additional 352 shares during the last quarter. Motiv8 Investments LLC acquired a new position in Fidelity MSCI Materials Index ETF during the 4th quarter worth $83,000. Qube Research & Technologies Ltd acquired a new position in Fidelity MSCI Materials Index ETF during the 2nd quarter worth $91,000. Finally, Kestra Advisory Services LLC bought a new position in Fidelity MSCI Materials Index ETF in the 4th quarter valued at $103,000.
Fidelity MSCI Materials Index ETF Stock Down 0.3%
Shares of NYSEARCA:FMAT opened at $59.98 on Tuesday. Fidelity MSCI Materials Index ETF has a 12 month low of $48.76 and a 12 month high of $62.84. The company’s 50-day moving average price is $58.81 and its two-hundred day moving average price is $59.11. The firm has a market cap of $605.80 million, a P/E ratio of 23.26 and a beta of 0.97.
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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