Fidelity MSCI Materials Index ETF (NYSEARCA:FMAT) Sees Large Drop in Short Interest

Fidelity MSCI Materials Index ETF (NYSEARCA:FMAT) was the recipient of a large decrease in short interest in the month of July. As of July 15th, there was short interest totaling 12,053 shares, a decrease of 60.5% from the June 30th total of 30,493 shares. Based on an average trading volume of 79,962 shares, the short-interest ratio is currently 0.2 days. Currently, 0.1% of the shares of the company are sold short.

Fidelity MSCI Materials Index ETF Price Performance

Shares of FMAT stock opened at $57.95 on Monday. The firm has a market capitalization of $585.29 million, a price-to-earnings ratio of 23.26 and a beta of 0.97. The business has a fifty day moving average of $58.61 and a 200 day moving average of $58.91. Fidelity MSCI Materials Index ETF has a 1 year low of $48.76 and a 1 year high of $62.84.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. Maxele Advisors LLC raised its stake in shares of Fidelity MSCI Materials Index ETF by 1.5% in the fourth quarter. Maxele Advisors LLC now owns 15,703 shares of the company’s stock worth $834,000 after purchasing an additional 226 shares during the last quarter. Smith Salley Wealth Management boosted its position in Fidelity MSCI Materials Index ETF by 1.7% in the first quarter. Smith Salley Wealth Management now owns 13,748 shares of the company’s stock valued at $792,000 after buying an additional 228 shares during the last quarter. Meridian Wealth Management LLC increased its holdings in Fidelity MSCI Materials Index ETF by 6.1% in the 4th quarter. Meridian Wealth Management LLC now owns 4,268 shares of the company’s stock worth $227,000 after buying an additional 246 shares during the period. Centennial Wealth Advisory LLC increased its holdings in Fidelity MSCI Materials Index ETF by 6.1% in the 4th quarter. Centennial Wealth Advisory LLC now owns 5,324 shares of the company’s stock worth $283,000 after buying an additional 305 shares during the period. Finally, Vicus Capital increased its holdings in Fidelity MSCI Materials Index ETF by 5.3% in the 4th quarter. Vicus Capital now owns 6,189 shares of the company’s stock worth $329,000 after buying an additional 312 shares during the period.

About Fidelity MSCI Materials Index ETF

The Fidelity MSCI Materials Index ETF (FMAT) is an exchange-traded fund that is based on the MSCI USA IMI Materials 25\u002F50 index, a market-cap-weighted index of stocks in the US basic materials sector across the entire market-cap spectrum. FMAT was launched on Oct 21, 2013 and is managed by Fidelity.