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

Shares of Fidelity MSCI Utilities Index ETF (NYSEARCA:FUTY) saw unusually-high trading volume on Friday . Approximately 329,391 shares changed hands 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 Price Performance

The company has a market cap of $1.31 billion, a price-to-earnings ratio of 22.79 and a beta of 0.50. The firm has a 50-day moving average price of $50.61 and a 200 day moving average price of $49.12.

Institutional Investors Weigh In On Fidelity MSCI Utilities Index ETF

A number of hedge funds and other institutional investors have recently modified their holdings of the company. JPMorgan Chase & Co. increased its holdings in shares of Fidelity MSCI Utilities Index ETF by 45.0% during the third quarter. JPMorgan Chase & Co. now owns 3,143 shares of the company’s stock worth $163,000 after purchasing an additional 975 shares during the period. Wilmington Savings Fund Society FSB acquired a new stake in Fidelity MSCI Utilities Index ETF during the third quarter worth approximately $28,000. Sunbelt Securities Inc. increased its stake in Fidelity MSCI Utilities Index ETF by 23.1% during the 3rd quarter. Sunbelt Securities Inc. now owns 17,416 shares of the company’s stock worth $902,000 after acquiring an additional 3,265 shares during the period. Glass Jacobson Investment Advisors llc raised its holdings in Fidelity MSCI Utilities Index ETF by 4.4% in the 3rd quarter. Glass Jacobson Investment Advisors llc now owns 12,139 shares of the company’s stock valued at $629,000 after acquiring an additional 515 shares in the last quarter. Finally, MML Investors Services LLC lifted its position in shares of Fidelity MSCI Utilities Index ETF by 16.2% during the 3rd quarter. MML Investors Services LLC now owns 31,426 shares of the company’s stock valued at $1,628,000 after acquiring an additional 4,372 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.