Fidelity MSCI Utilities Index ETF (NYSEARCA:FUTY) Sets New 1-Year High – Should You Buy?

Fidelity MSCI Utilities Index ETF (NYSEARCA:FUTY)’s share price hit a new 52-week high during mid-day trading on Monday . The company traded as high as $52.95 and last traded at $52.83, with a volume of 39773 shares traded. The stock had previously closed at $52.44.

Fidelity MSCI Utilities Index ETF Stock Performance

The business has a 50-day simple moving average of $51.32 and a 200 day simple moving average of $48.20. The firm has a market cap of $1.38 billion, a P/E ratio of 22.79 and a beta of 0.50.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Sunbelt Securities Inc. boosted its position in Fidelity MSCI Utilities Index ETF by 23.1% in the third quarter. Sunbelt Securities Inc. now owns 17,416 shares of the company’s stock worth $902,000 after purchasing an additional 3,265 shares during the last quarter. Glass Jacobson Investment Advisors llc increased its position in Fidelity MSCI Utilities Index ETF by 4.4% in the third quarter. Glass Jacobson Investment Advisors llc now owns 12,139 shares of the company’s stock worth $629,000 after purchasing an additional 515 shares during the last quarter. MML Investors Services LLC lifted its position in Fidelity MSCI Utilities Index ETF by 16.2% during the third quarter. MML Investors Services LLC now owns 31,426 shares of the company’s stock valued at $1,628,000 after purchasing an additional 4,372 shares during the last quarter. Glen Eagle Advisors LLC grew its stake in shares of Fidelity MSCI Utilities Index ETF by 21.4% in the 3rd quarter. Glen Eagle Advisors LLC now owns 1,604 shares of the company’s stock worth $83,000 after buying an additional 283 shares in the last quarter. Finally, Stifel Financial Corp increased its holdings in shares of Fidelity MSCI Utilities Index ETF by 97.9% in the 3rd quarter. Stifel Financial Corp now owns 20,181 shares of the company’s stock worth $1,046,000 after buying an additional 9,985 shares during the last quarter.

About Fidelity MSCI Utilities Index ETF

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.