Short Interest in Fidelity MSCI Financials Index ETF (NYSEARCA:FNCL) Grows By 690.1%

Fidelity MSCI Financials Index ETF (NYSEARCA:FNCL) was the recipient of a significant increase in short interest in July. As of July 15th, there was short interest totaling 83,612 shares, an increase of 690.1% from the June 30th total of 10,582 shares. Approximately 0.3% of the company’s stock are sold short. Based on an average daily trading volume, of 119,252 shares, the short-interest ratio is currently 0.7 days.

Institutional Trading of Fidelity MSCI Financials Index ETF

Several institutional investors have recently added to or reduced their stakes in the business. Strategic Point Investment Advisors LLC raised its stake in shares of Fidelity MSCI Financials Index ETF by 2.8% in the second quarter. Strategic Point Investment Advisors LLC now owns 224,324 shares of the company’s stock worth $17,174,000 after purchasing an additional 6,051 shares during the last quarter. First Heartland Consultants Inc. purchased a new stake in shares of Fidelity MSCI Financials Index ETF during the second quarter valued at $201,000. Howard Financial Services LTD. purchased a new stake in shares of Fidelity MSCI Financials Index ETF during the second quarter valued at $223,000. Centaurus Financial Inc. boosted its position in shares of Fidelity MSCI Financials Index ETF by 4.1% during the first quarter. Centaurus Financial Inc. now owns 8,787 shares of the company’s stock valued at $617,000 after buying an additional 343 shares during the last quarter. Finally, Royal Bank of Canada increased its holdings in Fidelity MSCI Financials Index ETF by 370.6% in the 1st quarter. Royal Bank of Canada now owns 79,882 shares of the company’s stock worth $5,608,000 after buying an additional 62,906 shares in the last quarter.

Fidelity MSCI Financials Index ETF Stock Performance

Shares of NYSEARCA:FNCL traded up $0.70 during trading on Friday, reaching $80.22. 128,398 shares of the stock traded hands, compared to its average volume of 131,313. The stock has a market cap of $2.35 billion, a P/E ratio of 17.73 and a beta of 0.90. The stock has a 50-day moving average of $76.62 and a two-hundred day moving average of $74.85. Fidelity MSCI Financials Index ETF has a 52-week low of $67.76 and a 52-week high of $81.19.

About Fidelity MSCI Financials Index ETF

The Fidelity MSCI Financials Index ETF (FNCL) is an exchange-traded fund that is based on the MSCI USA IMI Financials 25\u002F50 index, a market-cap-weighted index of US financial companies across the entire market-cap spectrum. FNCL was launched on Oct 21, 2013 and is managed by Fidelity.