Fidelity MSCI Information Technology Index ETF (NYSEARCA:FTEC) Short Interest Up 786.2% in May

Fidelity MSCI Information Technology Index ETF (NYSEARCA:FTEC) was the recipient of a significant increase in short interest in May. As of May 29th, there was short interest totaling 1,002,279 shares, an increase of 786.2% from the May 14th total of 113,098 shares. Based on an average daily volume of 304,399 shares, the short-interest ratio is currently 3.3 days. Approximately 1.4% of the company’s stock are short sold.

Fidelity MSCI Information Technology Index ETF Stock Down 1.9%

NYSEARCA:FTEC opened at $274.63 on Wednesday. Fidelity MSCI Information Technology Index ETF has a 52 week low of $184.88 and a 52 week high of $300.79. The firm has a 50 day moving average of $253.82 and a 200 day moving average of $233.13. The stock has a market capitalization of $19.97 billion, a price-to-earnings ratio of 35.45 and a beta of 1.34.

Institutional Investors Weigh In On Fidelity MSCI Information Technology Index ETF

Hedge funds and other institutional investors have recently bought and sold shares of the company. Financial Life Planners purchased a new stake in Fidelity MSCI Information Technology Index ETF during the third quarter valued at approximately $25,000. Bessemer Group Inc. purchased a new stake in Fidelity MSCI Information Technology Index ETF during the third quarter valued at approximately $26,000. Wealth Watch Advisors INC purchased a new stake in Fidelity MSCI Information Technology Index ETF during the third quarter valued at approximately $30,000. Strategic Advocates LLC purchased a new stake in Fidelity MSCI Information Technology Index ETF during the third quarter valued at approximately $31,000. Finally, Elyxium Wealth LLC purchased a new stake in Fidelity MSCI Information Technology Index ETF during the fourth quarter valued at approximately $37,000.

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.