Fidelity MSCI Information Technology Index ETF (NYSEARCA:FTEC) Short Interest Up 39.8% in December

Fidelity MSCI Information Technology Index ETF (NYSEARCA:FTEC) was the target of a significant growth in short interest in December. As of December 31st, there was short interest totaling 182,528 shares, a growth of 39.8% from the December 15th total of 130,533 shares. Currently, 0.2% of the company’s stock are sold short. Based on an average daily volume of 226,502 shares, the days-to-cover ratio is presently 0.8 days. Based on an average daily volume of 226,502 shares, the days-to-cover ratio is presently 0.8 days. Currently, 0.2% of the company’s stock are sold short.

Institutional Trading of Fidelity MSCI Information Technology Index ETF

Several hedge funds and other institutional investors have recently modified their holdings of FTEC. Financial Life Planners acquired a new stake in Fidelity MSCI Information Technology Index ETF during the third quarter valued at $25,000. Bessemer Group Inc. purchased a new stake in shares of Fidelity MSCI Information Technology Index ETF during the 3rd quarter worth about $26,000. AlphaCore Capital LLC acquired a new stake in shares of Fidelity MSCI Information Technology Index ETF during the 2nd quarter valued at about $26,000. Wealth Watch Advisors INC bought a new stake in shares of Fidelity MSCI Information Technology Index ETF in the 3rd quarter valued at approximately $30,000. Finally, Strategic Advocates LLC bought a new stake in shares of Fidelity MSCI Information Technology Index ETF in the 3rd quarter valued at approximately $31,000.

Fidelity MSCI Information Technology Index ETF Price Performance

FTEC traded down $0.10 on Friday, reaching $226.28. 190,167 shares of the company traded hands, compared to its average volume of 311,797. The company has a market cap of $16.81 billion, a price-to-earnings ratio of 35.45 and a beta of 1.24. The stock’s 50 day moving average price is $225.51 and its 200-day moving average price is $217.96. Fidelity MSCI Information Technology Index ETF has a 52-week low of $134.11 and a 52-week high of $240.25.

About Fidelity MSCI Information Technology Index ETF

The Fidelity MSCI Information Technology Index ETF (FTEC) is an exchange-traded fund that mostly invests in information technology equity. The fund tracks a market-cap-weighted index of stocks in the broad US information technology sector. FTEC was launched on Oct 21, 2013 and is managed by Fidelity.