Fidelity MSCI Materials Index ETF (NYSEARCA:FMAT) Short Interest Update

Fidelity MSCI Materials Index ETF (NYSEARCA:FMAT) saw a large growth in short interest during the month of July. As of July 31st, there was short interest totaling 18,940 shares, a growth of 57.1% from the July 15th total of 12,053 shares. Based on an average trading volume of 37,197 shares, the days-to-cover ratio is currently 0.5 days. Currently, 0.2% of the shares of the stock are short sold.

Fidelity MSCI Materials Index ETF Trading Down 1.3%

NYSEARCA:FMAT opened at $59.19 on Wednesday. The company has a 50-day moving average of $58.82 and a 200-day moving average of $59.11. The firm has a market cap of $597.82 million, a price-to-earnings ratio of 23.26 and a beta of 0.97. Fidelity MSCI Materials Index ETF has a twelve month low of $48.76 and a twelve month high of $62.84.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Trust Co. of Vermont bought a new stake in shares of Fidelity MSCI Materials Index ETF during the 2nd quarter worth $67,000. Northwestern Mutual Wealth Management Co. raised its position in shares of Fidelity MSCI Materials Index ETF by 33.5% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,404 shares of the company’s stock worth $70,000 after purchasing an additional 352 shares during the period. Motiv8 Investments LLC purchased a new stake in shares of Fidelity MSCI Materials Index ETF during the fourth quarter valued at $83,000. Qube Research & Technologies Ltd purchased a new stake in shares of Fidelity MSCI Materials Index ETF during the second quarter valued at $91,000. Finally, Kestra Advisory Services LLC acquired a new position in shares of Fidelity MSCI Materials Index ETF in the 4th quarter valued at $103,000.

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.