Fidelity MSCI Financials Index ETF (NYSEARCA:FNCL) Stock Short Interest Falls 41.9%

Fidelity MSCI Financials Index ETF (NYSEARCA:FNCL) was the target of a large drop in short interest in October. As of October 15th, there was short interest totaling 65,495 shares, a drop of 41.9% from the September 30th total of 112,722 shares. Based on an average trading volume of 102,912 shares, the short-interest ratio is currently 0.6 days. Approximately 0.2% of the company’s stock are short sold.

Fidelity MSCI Financials Index ETF Trading Up 1.8%

FNCL stock traded up $1.40 during trading on Monday, hitting $81.34. 186,168 shares of the company’s stock were exchanged, compared to its average volume of 130,796. The business has a 50-day moving average price of $79.36 and a two-hundred day moving average price of $76.51. The stock has a market capitalization of $2.36 billion, a price-to-earnings ratio of 17.73 and a beta of 0.91. Fidelity MSCI Financials Index ETF has a 52-week low of $67.76 and a 52-week high of $83.35.

Institutional Investors Weigh In On Fidelity MSCI Financials Index ETF

Several institutional investors have recently made changes to their positions in FNCL. Commonwealth Equity Services LLC acquired a new position in Fidelity MSCI Financials Index ETF in the third quarter worth $25,098,000. Kestra Advisory Services LLC lifted its stake in Fidelity MSCI Financials Index ETF by 17.2% during the first quarter. Kestra Advisory Services LLC now owns 242,191 shares of the company’s stock valued at $17,002,000 after purchasing an additional 35,569 shares during the last quarter. Strategic Point Investment Advisors LLC lifted its stake in Fidelity MSCI Financials Index ETF by 2.8% during the second quarter. Strategic Point Investment Advisors LLC now owns 224,324 shares of the company’s stock valued at $17,174,000 after purchasing an additional 6,051 shares during the last quarter. Procyon Advisors LLC boosted its holdings in Fidelity MSCI Financials Index ETF by 19.2% during the first quarter. Procyon Advisors LLC now owns 155,754 shares of the company’s stock worth $10,934,000 after buying an additional 25,067 shares in the last quarter. Finally, Fischer Financial Services Inc. boosted its holdings in Fidelity MSCI Financials Index ETF by 0.3% during the third quarter. Fischer Financial Services Inc. now owns 143,632 shares of the company’s stock worth $10,876,000 after buying an additional 459 shares in the last quarter.

About Fidelity MSCI Financials Index ETF

The Fidelity MSCI Financials Index ETF (FNCL) is an exchange-traded fund that is based on the MSCI USA IMI Financials 25\u002F50 index, a market-cap-weighted index of US financial companies across the entire market-cap spectrum. FNCL was launched on Oct 21, 2013 and is managed by Fidelity.