Fidelity MSCI Utilities Index ETF (NYSEARCA:FUTY) Sees Large Volume Increase – Time to Buy?

Fidelity MSCI Utilities Index ETF (NYSEARCA:FUTY) shares saw unusually-strong trading volume on Wednesday . Approximately 493,029 shares were traded during 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 Stock Up 1.8 %

The firm has a 50-day moving average of $50.34 and a two-hundred day moving average of $49.37. The company has a market capitalization of $1.31 billion, a PE ratio of 22.79 and a beta of 0.50.

Institutional Investors Weigh In On Fidelity MSCI Utilities Index ETF

Several hedge funds have recently modified their holdings of the company. Sweeney & Michel LLC raised its position in Fidelity MSCI Utilities Index ETF by 362.6% during the third quarter. Sweeney & Michel LLC now owns 76,080 shares of the company’s stock worth $3,996,000 after acquiring an additional 59,633 shares during the period. Primoris Wealth Advisors LLC purchased a new stake in shares of Fidelity MSCI Utilities Index ETF during the third quarter worth about $2,942,000. GSB Wealth Management LLC raised its position in shares of 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 purchasing an additional 35,623 shares during the last quarter. D.A. Davidson & CO. purchased a new position in Fidelity MSCI Utilities Index ETF in the 3rd quarter valued at about $1,193,000. Finally, Cedar Wealth Management LLC lifted its stake in 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 buying an additional 21,387 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.