Short Interest in Fidelity MSCI Communication Services Index ETF (NYSEARCA:FCOM) Increases By 106.2%

Fidelity MSCI Communication Services Index ETF (NYSEARCA:FCOM) saw a significant growth in short interest in the month of June. As of June 30th, there was short interest totaling 117,222 shares, a growth of 106.2% from the June 15th total of 56,856 shares. Based on an average trading volume of 215,967 shares, the days-to-cover ratio is currently 0.5 days. Approximately 0.5% of the shares of the company are short sold.

Fidelity MSCI Communication Services Index ETF Trading Down 1.4%

FCOM traded down $1.03 during trading on Thursday, hitting $72.42. The company’s stock had a trading volume of 137,674 shares, compared to its average volume of 157,057. The business’s fifty day simple moving average is $71.99 and its 200 day simple moving average is $72.14. Fidelity MSCI Communication Services Index ETF has a twelve month low of $64.11 and a twelve month high of $75.94. The firm has a market capitalization of $1.85 billion, a price-to-earnings ratio of 19.08 and a beta of 1.05.

Institutional Trading of Fidelity MSCI Communication Services Index ETF

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Harel Insurance Investments & Financial Services Ltd. increased its stake in shares of Fidelity MSCI Communication Services Index ETF by 5.2% in the 1st quarter. Harel Insurance Investments & Financial Services Ltd. now owns 3,145,739 shares of the company’s stock worth $214,288,000 after acquiring an additional 155,067 shares during the last quarter. Vicus Capital raised its position in shares of Fidelity MSCI Communication Services Index ETF by 4.2% during the 4th quarter. Vicus Capital now owns 362,496 shares of the company’s stock valued at $26,564,000 after buying an additional 14,451 shares during the period. Commonwealth Equity Services LLC lifted its holdings in Fidelity MSCI Communication Services Index ETF by 0.6% in the fourth quarter. Commonwealth Equity Services LLC now owns 297,696 shares of the company’s stock valued at $21,815,000 after acquiring an additional 1,822 shares during the last quarter. Mercer Global Advisors Inc. ADV acquired a new position in Fidelity MSCI Communication Services Index ETF in the third quarter valued at approximately $18,465,000. Finally, Wells Fargo & Company MN grew its position in Fidelity MSCI Communication Services Index ETF by 1.6% in the fourth quarter. Wells Fargo & Company MN now owns 246,813 shares of the company’s stock worth $18,086,000 after acquiring an additional 3,854 shares during the period.

About Fidelity MSCI Communication Services Index ETF

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.