Fidelity MSCI Utilities Index ETF (NYSEARCA:FUTY) Reaches New 1-Year Low – Here’s Why

Fidelity MSCI Utilities Index ETF (NYSEARCA:FUTY)’s stock price hit a new 52-week low during mid-day trading on Monday . The stock traded as low as $54.10 and last traded at $54.0850, with a volume of 62580 shares. The stock had previously closed at $54.70.

Fidelity MSCI Utilities Index ETF Stock Performance

The firm has a fifty day simple moving average of $56.78 and a 200 day simple moving average of $58.09. The company has a market capitalization of $2.17 billion, a PE ratio of 20.34 and a beta of 0.58.

Institutional Trading of Fidelity MSCI Utilities Index ETF

Hedge funds have recently added to or reduced their stakes in the business. Bank of America Corp DE increased its position in Fidelity MSCI Utilities Index ETF by 0.9% during the 1st quarter. Bank of America Corp DE now owns 9,170,828 shares of the company’s stock valued at $541,721,000 after purchasing an additional 77,710 shares during the period. Northwestern Mutual Wealth Management Co. boosted its stake in shares of Fidelity MSCI Utilities Index ETF by 1,161.7% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 643,682 shares of the company’s stock valued at $35,544,000 after purchasing an additional 592,663 shares in the last quarter. Kestra Advisory Services LLC boosted its stake in shares of Fidelity MSCI Utilities Index ETF by 13.7% during the first quarter. Kestra Advisory Services LLC now owns 552,635 shares of the company’s stock valued at $32,644,000 after purchasing an additional 66,524 shares in the last quarter. Cetera Investment Advisers increased its holdings in Fidelity MSCI Utilities Index ETF by 29.9% during the first quarter. Cetera Investment Advisers now owns 250,627 shares of the company’s stock valued at $14,805,000 after buying an additional 57,657 shares during the period. Finally, HighTower Advisors LLC increased its holdings in Fidelity MSCI Utilities Index ETF by 9.7% during the fourth quarter. HighTower Advisors LLC now owns 199,286 shares of the company’s stock valued at $11,005,000 after buying an additional 17,609 shares during the period.

Fidelity MSCI Utilities Index ETF Company Profile

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.