Fidelity MSCI Materials Index ETF (NYSEARCA:FMAT) Short Interest Down 53.8% in June

Fidelity MSCI Materials Index ETF (NYSEARCA:FMAT) was the target of a large decrease in short interest in June. As of June 15th, there was short interest totaling 21,139 shares, a decrease of 53.8% from the May 31st total of 45,799 shares. Based on an average daily trading volume, of 42,535 shares, the short-interest ratio is presently 0.5 days. Approximately 0.2% of the shares of the stock are sold short.

Fidelity MSCI Materials Index ETF Price Performance

NYSEARCA:FMAT opened at $59.35 on Monday. The business’s 50-day simple moving average is $59.38 and its two-hundred day simple moving average is $58.25. Fidelity MSCI Materials Index ETF has a 52 week low of $48.76 and a 52 week high of $62.84. The stock has a market cap of $605.37 million, a PE ratio of 23.26 and a beta of 0.96.

Institutional Trading of Fidelity MSCI Materials Index ETF

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Wealth Alliance Advisory Group LLC bought a new position in Fidelity MSCI Materials Index ETF in the 4th quarter worth approximately $1,393,000. Lido Advisors LLC raised its position in shares of Fidelity MSCI Materials Index ETF by 8.7% during the third quarter. Lido Advisors LLC now owns 623,248 shares of the company’s stock valued at $32,677,000 after buying an additional 49,681 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Fidelity MSCI Materials Index ETF by 23,517.9% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 334,902 shares of the company’s stock worth $17,787,000 after buying an additional 333,484 shares in the last quarter. Kovitz Investment Group Partners LLC lifted its holdings in shares of Fidelity MSCI Materials Index ETF by 83.4% in the fourth quarter. Kovitz Investment Group Partners LLC now owns 96,473 shares of the company’s stock worth $5,124,000 after buying an additional 43,872 shares in the last quarter. Finally, Mach 1 Financial Group LLC bought a new position in shares of Fidelity MSCI Materials Index ETF during the fourth quarter worth $1,609,000.

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.