Fidelity MSCI Materials Index ETF (NYSEARCA:FMAT) Short Interest Up 83.0% in August

Fidelity MSCI Materials Index ETF (NYSEARCA:FMAT) was the target of a significant increase in short interest in August. As of August 31st, there was short interest totaling 26,438 shares, an increase of 83.0% from the August 15th total of 14,450 shares. Approximately 0.3% of the shares of the stock are short sold. Based on an average daily volume of 41,402 shares, the days-to-cover ratio is presently 0.6 days.

Fidelity MSCI Materials Index ETF Price Performance

FMAT traded up $0.20 on Wednesday, hitting $58.02. 5,702 shares of the stock were exchanged, compared to its average volume of 55,111. The firm has a market capitalization of $585.96 million, a price-to-earnings ratio of 23.26 and a beta of 0.97. Fidelity MSCI Materials Index ETF has a 12 month low of $48.76 and a 12 month high of $62.84. The business has a 50-day moving average of $59.12 and a two-hundred day moving average of $59.00.

Institutional Trading of Fidelity MSCI Materials Index ETF

Institutional investors and hedge funds have recently made changes to their positions in the company. NewEdge Advisors LLC increased its stake in shares of Fidelity MSCI Materials Index ETF by 1.8% in the 2nd quarter. NewEdge Advisors LLC now owns 11,810 shares of the company’s stock valued at $691,000 after purchasing an additional 208 shares during the last quarter. Elevation Wealth Management LLC bought a new stake in shares of Fidelity MSCI Materials Index ETF during the 2nd quarter worth $328,000. Concurrent Investment Advisors LLC acquired a new stake in Fidelity MSCI Materials Index ETF in the second quarter valued at about $200,000. Trust Co. of Vermont bought a new position in Fidelity MSCI Materials Index ETF in the second quarter valued at about $67,000. Finally, Wealthcare Advisory Partners LLC grew its position in Fidelity MSCI Materials Index ETF by 12.3% in the second quarter. Wealthcare Advisory Partners LLC now owns 25,902 shares of the company’s stock valued at $1,516,000 after acquiring an additional 2,827 shares during the last quarter.

About Fidelity MSCI Materials Index ETF

The Fidelity MSCI Materials Index ETF (FMAT) is an exchange-traded fund that is based on the MSCI USA IMI Materials 25\u002F50 index, a market-cap-weighted index of stocks in the US basic materials sector across the entire market-cap spectrum. FMAT was launched on Oct 21, 2013 and is managed by Fidelity.