Modern Wealth Management LLC Makes New Investment in Fidelity MSCI Utilities Index ETF (NYSEARCA:FUTY)

Modern Wealth Management LLC acquired a new stake in Fidelity MSCI Utilities Index ETF (NYSEARCA:FUTY) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 64,571 shares of the company’s stock, valued at approximately $3,286,000. Modern Wealth Management LLC owned about 0.24% of Fidelity MSCI Utilities Index ETF at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of FUTY. LPL Financial LLC grew its stake in Fidelity MSCI Utilities Index ETF by 56.7% in the 4th quarter. LPL Financial LLC now owns 470,099 shares of the company’s stock worth $22,927,000 after acquiring an additional 170,067 shares during the period. HighTower Advisors LLC grew its position in shares of Fidelity MSCI Utilities Index ETF by 4.3% in the fourth quarter. HighTower Advisors LLC now owns 217,756 shares of the company’s stock valued at $10,620,000 after purchasing an additional 9,036 shares during the period. Apollon Wealth Management LLC acquired a new position in Fidelity MSCI Utilities Index ETF in the fourth quarter valued at $5,073,000. Valmark Advisers Inc. lifted its position in Fidelity MSCI Utilities Index ETF by 1.6% during the fourth quarter. Valmark Advisers Inc. now owns 87,594 shares of the company’s stock worth $4,272,000 after buying an additional 1,357 shares during the period. Finally, AGF Management Ltd. lifted its position in Fidelity MSCI Utilities Index ETF by 18.0% during the fourth quarter. AGF Management Ltd. now owns 80,284 shares of the company’s stock worth $3,915,000 after buying an additional 12,236 shares during the period.

Fidelity MSCI Utilities Index ETF Price Performance

FUTY opened at $49.70 on Wednesday. Fidelity MSCI Utilities Index ETF has a 12 month low of $40.34 and a 12 month high of $53.65. The business has a 50-day moving average of $50.64 and a two-hundred day moving average of $50.70. The stock has a market capitalization of $1.63 billion, a price-to-earnings ratio of 20.26 and a beta of 0.62.

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.