Fidelity MSCI Utilities Index ETF (NYSEARCA:FUTY) Sees Large Volume Increase – Still a Buy?

Fidelity MSCI Utilities Index ETF (NYSEARCA:FUTY) saw unusually-high trading volume on Wednesday . Approximately 347,441 shares were traded during trading, an increase of 3% from the previous session’s volume of 336,400 shares.The stock last traded at $58.38 and had previously closed at $58.04.

Fidelity MSCI Utilities Index ETF Trading Down 0.1%

The firm has a 50-day simple moving average of $59.71 and a 200-day simple moving average of $57.82. The firm has a market cap of $2.42 billion, a P/E ratio of 20.34 and a beta of 0.66.

Hedge Funds Weigh In On Fidelity MSCI Utilities Index ETF

A number of large investors have recently added to or reduced their stakes in FUTY. Qube Research & Technologies Ltd purchased a new position in shares of Fidelity MSCI Utilities Index ETF in the 2nd quarter worth approximately $147,000. NewEdge Advisors LLC boosted its stake in Fidelity MSCI Utilities Index ETF by 1.8% in the second quarter. NewEdge Advisors LLC now owns 64,625 shares of the company’s stock valued at $3,399,000 after acquiring an additional 1,159 shares in the last quarter. Ameriprise Financial Inc. grew its holdings in Fidelity MSCI Utilities Index ETF by 4.5% in the second quarter. Ameriprise Financial Inc. now owns 77,542 shares of the company’s stock worth $4,079,000 after purchasing an additional 3,358 shares during the last quarter. Bank of America Corp DE increased its position in shares of Fidelity MSCI Utilities Index ETF by 2.0% during the second quarter. Bank of America Corp DE now owns 8,795,631 shares of the company’s stock worth $462,650,000 after purchasing an additional 171,754 shares in the last quarter. Finally, BNP Paribas Financial Markets purchased a new stake in shares of Fidelity MSCI Utilities Index ETF during the 2nd quarter valued at $2,630,000.

Fidelity MSCI Utilities Index ETF Company Profile

The Fidelity MSCI Utilities Index ETF (FUTY) is an exchange-traded fund that is based on the MSCI USA IMI Utilities 25\u002F50 index. The fund tracks the MSCI US IMI Utilities 25\u002F50 Index, a market-cap-weighted index of stocks in the US utilities sector. FUTY was launched on Oct 21, 2013 and is managed by Fidelity.