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

Shares of Fidelity MSCI Utilities Index ETF (NYSEARCA:FUTY) saw unusually-strong trading volume on Friday . Approximately 329,391 shares were traded during trading, an increase of 38% from the previous session’s volume of 238,320 shares.The stock last traded at $49.75 and had previously closed at $49.07.

Fidelity MSCI Utilities Index ETF Stock Performance

The company has a 50-day simple moving average of $50.61 and a 200-day simple moving average of $49.12. The stock has a market cap of $1.31 billion, a P/E ratio of 22.79 and a beta of 0.50.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Sweeney & Michel LLC grew its position in shares of Fidelity MSCI Utilities Index ETF by 362.6% during the 3rd quarter. Sweeney & Michel LLC now owns 76,080 shares of the company’s stock worth $3,996,000 after buying an additional 59,633 shares during the period. Primoris Wealth Advisors LLC acquired a new stake in Fidelity MSCI Utilities Index ETF during the 3rd quarter worth $2,942,000. GSB Wealth Management LLC grew its holdings in Fidelity MSCI Utilities Index ETF by 228.2% during the 3rd quarter. GSB Wealth Management LLC now owns 51,235 shares of the company’s stock worth $2,655,000 after acquiring an additional 35,623 shares during the period. D.A. Davidson & CO. acquired a new position in shares of Fidelity MSCI Utilities Index ETF in the 3rd quarter valued at $1,193,000. Finally, Cedar Wealth Management LLC lifted its stake in shares of Fidelity MSCI Utilities Index ETF by 114.2% in the 2nd quarter. Cedar Wealth Management LLC now owns 40,118 shares of the company’s stock valued at $1,764,000 after purchasing an additional 21,387 shares during the period.

About Fidelity MSCI Utilities Index ETF

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.