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

Fidelity MSCI Utilities Index ETF (NYSEARCA:FUTY) saw unusually-high trading volume on Wednesday . Approximately 493,029 shares traded hands during mid-day trading, an increase of 87% from the previous session’s volume of 263,111 shares.The stock last traded at $49.54 and had previously closed at $48.73.

Fidelity MSCI Utilities Index ETF Price Performance

The company has a market capitalization of $1.31 billion, a price-to-earnings ratio of 22.79 and a beta of 0.50. The stock has a 50 day simple moving average of $50.34 and a two-hundred day simple moving average of $49.37.

Institutional Trading of Fidelity MSCI Utilities Index ETF

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in FUTY. AE Wealth Management LLC boosted its position in shares of Fidelity MSCI Utilities Index ETF by 2.5% in the 2nd quarter. AE Wealth Management LLC now owns 547,567 shares of the company’s stock valued at $24,071,000 after purchasing an additional 13,515 shares during the period. HighTower Advisors LLC lifted its holdings in shares of Fidelity MSCI Utilities Index ETF by 1.1% during the third quarter. HighTower Advisors LLC now owns 208,720 shares of the company’s stock worth $10,791,000 after purchasing an additional 2,307 shares during the period. Brookstone Capital Management boosted its holdings in shares of Fidelity MSCI Utilities Index ETF by 2.6% in the third quarter. Brookstone Capital Management now owns 164,548 shares of the company’s stock valued at $8,527,000 after acquiring an additional 4,100 shares in the last quarter. Valmark Advisers Inc. boosted its holdings in Fidelity MSCI Utilities Index ETF by 11.0% in the 3rd quarter. Valmark Advisers Inc. now owns 86,237 shares of the company’s stock valued at $4,469,000 after purchasing an additional 8,524 shares in the last quarter. Finally, Conrad Siegel Investment Advisors Inc. boosted its holdings in Fidelity MSCI Utilities Index ETF by 13.4% in the 4th quarter. Conrad Siegel Investment Advisors Inc. now owns 78,468 shares of the company’s stock valued at $3,827,000 after purchasing an additional 9,278 shares in the last quarter.

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.