Short Interest in Fidelity MSCI Communication Services Index ETF (NYSEARCA:FCOM) Grows By 547.1%

Fidelity MSCI Communication Services Index ETF (NYSEARCA:FCOM) saw a large increase in short interest during the month of February. As of February 27th, there was short interest totaling 39,059 shares, an increase of 547.1% from the February 12th total of 6,036 shares. Based on an average daily trading volume, of 129,172 shares, the short-interest ratio is currently 0.3 days. Currently, 0.1% of the company’s stock are short sold. Currently, 0.1% of the company’s stock are short sold. Based on an average daily trading volume, of 129,172 shares, the short-interest ratio is currently 0.3 days.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. Atlantic Union Bankshares Corp acquired a new stake in shares of Fidelity MSCI Communication Services Index ETF in the 2nd quarter valued at approximately $26,000. Simplex Trading LLC raised its position in Fidelity MSCI Communication Services Index ETF by 80.9% during the fourth quarter. Simplex Trading LLC now owns 360 shares of the company’s stock worth $26,000 after acquiring an additional 161 shares in the last quarter. Private Trust Co. NA raised its position in Fidelity MSCI Communication Services Index ETF by 1,737.5% during the third quarter. Private Trust Co. NA now owns 441 shares of the company’s stock worth $31,000 after acquiring an additional 417 shares in the last quarter. Russell Investments Group Ltd. lifted its stake in Fidelity MSCI Communication Services Index ETF by 170.9% in the third 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. Finally, Larson Financial Group LLC acquired a new stake in Fidelity MSCI Communication Services Index ETF in the third quarter valued at $41,000.

Fidelity MSCI Communication Services Index ETF Stock Down 0.2%

Shares of NYSEARCA:FCOM traded down $0.14 during midday trading on Tuesday, reaching $72.17. The company had a trading volume of 167,275 shares, compared to its average volume of 178,586. The business’s 50 day moving average price is $72.85 and its 200 day moving average price is $71.53. The stock has a market cap of $1.89 billion, a PE ratio of 19.08 and a beta of 1.06. Fidelity MSCI Communication Services Index ETF has a 1-year low of $48.96 and a 1-year high of $75.94.

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.