Fidelity MSCI Utilities Index ETF (NYSEARCA:FUTY) Sees Unusually-High Trading Volume – Should You Buy?

Fidelity MSCI Utilities Index ETF (NYSEARCA:FUTY) shares saw an uptick in trading volume on Tuesday. Approximately 2,360,772 shares were traded during trading, an increase of 546% from the previous session’s volume of 365,631 shares. The stock last traded at $51.0970 and had previously closed at $50.82.

Fidelity MSCI Utilities Index ETF Trading Up 0.4%

The stock’s 50 day moving average price is $55.64 and its 200 day moving average price is $57.55. The company has a market capitalization of $2.10 billion, a price-to-earnings ratio of 20.34 and a beta of 0.58.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Envestnet Asset Management Inc. raised its stake in shares of Fidelity MSCI Utilities Index ETF by 21.2% during the 2nd quarter. Envestnet Asset Management Inc. now owns 419,958 shares of the company’s stock worth $24,534,000 after purchasing an additional 73,449 shares in the last quarter. NewEdge Advisors LLC grew its stake in shares of Fidelity MSCI Utilities Index ETF by 2.6% in the second quarter. NewEdge Advisors LLC now owns 75,699 shares of the company’s stock valued at $4,422,000 after buying an additional 1,948 shares in the last quarter. Ameritas Advisory Services LLC grew its stake in shares of Fidelity MSCI Utilities Index ETF by 49.7% in the second quarter. Ameritas Advisory Services LLC now owns 22,285 shares of the company’s stock valued at $1,302,000 after buying an additional 7,396 shares in the last quarter. Elevation Wealth Management LLC increased its holdings in Fidelity MSCI Utilities Index ETF by 68.9% during the second quarter. Elevation Wealth Management LLC now owns 9,020 shares of the company’s stock worth $527,000 after buying an additional 3,681 shares during the last quarter. Finally, Concurrent Investment Advisors LLC increased its holdings in Fidelity MSCI Utilities Index ETF by 6.4% during the second quarter. Concurrent Investment Advisors LLC now owns 7,139 shares of the company’s stock worth $417,000 after buying an additional 430 shares during the last quarter.

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.