Fidelity MSCI Communication Services Index ETF (NYSEARCA:FCOM) Sees Significant Increase in Short Interest

Fidelity MSCI Communication Services Index ETF (NYSEARCA:FCOM) was the recipient of a large increase in short interest during the month of December. As of December 15th, there was short interest totaling 72,573 shares, an increase of 330.9% from the November 30th total of 16,843 shares. Based on an average daily volume of 79,114 shares, the days-to-cover ratio is presently 0.9 days. Approximately 0.3% of the shares of the stock are short sold. Approximately 0.3% of the shares of the stock are short sold. Based on an average daily volume of 79,114 shares, the days-to-cover ratio is presently 0.9 days.

Institutional Investors Weigh In On Fidelity MSCI Communication Services Index ETF

Institutional investors and hedge funds have recently made changes to their positions in the company. Atlantic Union Bankshares Corp bought a new position in Fidelity MSCI Communication Services Index ETF in the second quarter valued at about $26,000. Private Trust Co. NA lifted its holdings in Fidelity MSCI Communication Services Index ETF by 1,737.5% in the third quarter. Private Trust Co. NA now owns 441 shares of the company’s stock valued at $31,000 after buying an additional 417 shares during the period. Russell Investments Group Ltd. raised its position in shares of Fidelity MSCI Communication Services Index ETF by 170.9% during the 3rd quarter. Russell Investments Group Ltd. now owns 512 shares of the company’s stock valued at $36,000 after acquiring an additional 323 shares during the last quarter. Signature Resources Capital Management LLC bought a new stake in Fidelity MSCI Communication Services Index ETF in the second quarter valued at about $40,000. Finally, Larson Financial Group LLC bought a new position in Fidelity MSCI Communication Services Index ETF during the third quarter worth about $41,000.

Fidelity MSCI Communication Services Index ETF Stock Up 0.4%

Fidelity MSCI Communication Services Index ETF stock opened at $73.62 on Thursday. The stock has a 50-day simple moving average of $71.02 and a 200 day simple moving average of $68.41. The stock has a market capitalization of $1.91 billion, a price-to-earnings ratio of 19.08 and a beta of 1.06. Fidelity MSCI Communication Services Index ETF has a 12-month low of $48.96 and a 12-month high of $73.82.

Fidelity MSCI Communication Services Index ETF Company Profile

The Fidelity MSCI Communication Services Index ETF (FCOM) is an exchange-traded fund that mostly invests in communication services equity. The fund tracks a market-cap-weighted index of stocks in the US communication services sector. FCOM was launched on Oct 21, 2013 and is managed by Fidelity.