Fidelity MSCI Utilities Index ETF (NYSEARCA:FUTY) Sees Large Volume Increase – Here’s Why

Fidelity MSCI Utilities Index ETF (NYSEARCA:FUTY) saw unusually-high trading volume on Wednesday . Approximately 2,490,613 shares traded hands during mid-day trading, an increase of 973% from the previous session’s volume of 232,040 shares.The stock last traded at $50.51 and had previously closed at $50.93.

Fidelity MSCI Utilities Index ETF Stock Performance

The stock has a market cap of $1.34 billion, a price-to-earnings ratio of 22.79 and a beta of 0.50. The company has a 50 day moving average of $49.43 and a 200-day moving average of $46.17.

Hedge Funds Weigh In On Fidelity MSCI Utilities Index ETF

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in FUTY. CWM LLC lifted its position in shares of Fidelity MSCI Utilities Index ETF by 66.1% in the 2nd quarter. CWM LLC now owns 1,146 shares of the company’s stock worth $50,000 after buying an additional 456 shares during the last quarter. American National Bank lifted its position in shares of Fidelity MSCI Utilities Index ETF by 60.6% in the 1st quarter. American National Bank now owns 1,264 shares of the company’s stock valued at $54,000 after acquiring an additional 477 shares in the last quarter. Gradient Investments LLC boosted its position in Fidelity MSCI Utilities Index ETF by 25,520.0% during the 2nd quarter. Gradient Investments LLC now owns 2,562 shares of the company’s stock worth $113,000 after acquiring an additional 2,552 shares during the period. Creekmur Asset Management LLC acquired a new position in shares of Fidelity MSCI Utilities Index ETF in the fourth quarter worth $143,000. Finally, Rogco LP acquired a new position in Fidelity MSCI Utilities Index ETF in the first quarter worth approximately $157,000.

Fidelity MSCI Utilities Index ETF Company Profile

The Fidelity MSCI Utilities Index ETF (FUTY) is an exchange-traded fund that is based on the MSCI USA IMI Utilities 25\u002F50 index. The fund tracks the MSCI US IMI Utilities 25\u002F50 Index, a market-cap-weighted index of stocks in the US utilities sector. FUTY was launched on Oct 21, 2013 and is managed by Fidelity.