Short Interest in Fidelity MSCI Communication Services Index ETF (NYSEARCA:FCOM) Drops By 47.4%

Fidelity MSCI Communication Services Index ETF (NYSEARCA:FCOM) was the target of a large drop in short interest in January. As of January 15th, there was short interest totaling 25,802 shares, a drop of 47.4% from the December 31st total of 49,053 shares. Based on an average daily trading volume, of 109,545 shares, the days-to-cover ratio is currently 0.2 days. Currently, 0.1% of the shares of the stock are short sold. Currently, 0.1% of the shares of the stock are short sold. Based on an average daily trading volume, of 109,545 shares, the days-to-cover ratio is currently 0.2 days.

Fidelity MSCI Communication Services Index ETF Price Performance

Shares of Fidelity MSCI Communication Services Index ETF stock traded down $0.36 during trading hours on Friday, reaching $75.45. The company’s stock had a trading volume of 107,449 shares, compared to its average volume of 209,417. The firm has a 50 day moving average price of $73.00 and a 200-day moving average price of $70.32. Fidelity MSCI Communication Services Index ETF has a one year low of $48.96 and a one year high of $75.94. The stock has a market cap of $1.98 billion, a P/E ratio of 19.08 and a beta of 1.06.

Institutional Investors Weigh In On Fidelity MSCI Communication Services Index ETF

Hedge funds have recently modified their holdings of the business. NewEdge Advisors LLC increased its stake in Fidelity MSCI Communication Services Index ETF by 128.0% during the 1st quarter. NewEdge Advisors LLC now owns 9,354 shares of the company’s stock worth $526,000 after buying an additional 5,251 shares in the last quarter. Park Avenue Securities LLC purchased a new position in shares of Fidelity MSCI Communication Services Index ETF in the second quarter worth about $201,000. Janney Montgomery Scott LLC grew its stake in Fidelity MSCI Communication Services Index ETF by 16.0% during the 2nd quarter. Janney Montgomery Scott LLC now owns 67,249 shares of the company’s stock valued at $4,358,000 after acquiring an additional 9,255 shares in the last quarter. Vicus Capital increased its holdings in shares of Fidelity MSCI Communication Services Index ETF by 4.4% in the second quarter. Vicus Capital now owns 289,689 shares of the company’s stock valued at $18,775,000 after purchasing an additional 12,185 shares during the last quarter. Finally, Yoder Wealth Management Inc. lifted its position in Fidelity MSCI Communication Services Index ETF by 5.2% during the second quarter. Yoder Wealth Management Inc. now owns 76,265 shares of the company’s stock worth $4,943,000 after buying an additional 3,773 shares in the last quarter.

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.