Fidelity MSCI Communication Services Index ETF (NYSEARCA:FCOM) Sees Large Growth in Short Interest

Fidelity MSCI Communication Services Index ETF (NYSEARCA:FCOM) was the recipient of a large increase in short interest during the month of April. As of April 30th, there was short interest totaling 66,987 shares, an increase of 74.9% from the April 15th total of 38,290 shares. Based on an average daily volume of 108,129 shares, the days-to-cover ratio is presently 0.6 days. Approximately 0.3% of the shares of the stock are short sold.

Fidelity MSCI Communication Services Index ETF Stock Down 1.1%

FCOM traded down $0.80 during trading on Tuesday, hitting $73.70. The company’s stock had a trading volume of 107,135 shares, compared to its average volume of 147,683. The firm’s 50 day moving average price is $71.83 and its two-hundred day moving average price is $72.01. Fidelity MSCI Communication Services Index ETF has a 12 month low of $59.12 and a 12 month high of $75.94. The stock has a market capitalization of $1.75 billion, a price-to-earnings ratio of 19.08 and a beta of 1.06.

Institutional Investors Weigh In On Fidelity MSCI Communication Services Index ETF

Hedge funds and other institutional investors have recently made changes to their positions in the company. AGF Management Ltd. increased its stake in shares of Fidelity MSCI Communication Services Index ETF by 3.6% in the 3rd quarter. AGF Management Ltd. now owns 654,982 shares of the company’s stock valued at $46,484,000 after buying an additional 22,707 shares during the period. Lido Advisors LLC grew its stake in Fidelity MSCI Communication Services Index ETF by 10.4% in the third quarter. Lido Advisors LLC now owns 2,062,288 shares of the company’s stock valued at $146,361,000 after acquiring an additional 194,559 shares during the period. Yoder Wealth Management Inc. grew its stake in Fidelity MSCI Communication Services Index ETF by 17.9% in the fourth quarter. Yoder Wealth Management Inc. now owns 97,690 shares of the company’s stock valued at $7,159,000 after acquiring an additional 14,820 shares during the period. Vicus Capital grew its stake in Fidelity MSCI Communication Services Index ETF by 4.2% in the fourth quarter. Vicus Capital now owns 362,496 shares of the company’s stock valued at $26,564,000 after acquiring an additional 14,451 shares during the period. Finally, Maxele Advisors LLC acquired a new position in Fidelity MSCI Communication Services Index ETF in the third quarter valued at about $1,362,000.

About Fidelity MSCI Communication Services Index ETF

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.