Fidelity MSCI Utilities Index ETF (NYSEARCA:FUTY) Hits New 1-Year High – Still a Buy?

Fidelity MSCI Utilities Index ETF (NYSEARCA:FUTY)’s share price reached a new 52-week high on Wednesday . The stock traded as high as $52.60 and last traded at $52.58, with a volume of 183687 shares changing hands. The stock had previously closed at $51.76.

Fidelity MSCI Utilities Index ETF Price Performance

The company’s 50 day simple moving average is $50.01 and its 200 day simple moving average is $46.57. The firm has a market cap of $1.39 billion, a price-to-earnings ratio of 22.79 and a beta of 0.50.

Institutional Investors Weigh In On Fidelity MSCI Utilities Index ETF

Several institutional investors have recently modified their holdings of FUTY. FLC Capital Advisors lifted its position in Fidelity MSCI Utilities Index ETF by 2.5% in the third quarter. FLC Capital Advisors now owns 8,128 shares of the company’s stock valued at $421,000 after acquiring an additional 200 shares during the last quarter. Ellis Investment Partners LLC lifted its position in Fidelity MSCI Utilities Index ETF by 3.6% in the second quarter. Ellis Investment Partners LLC now owns 6,991 shares of the company’s stock valued at $307,000 after acquiring an additional 244 shares during the last quarter. PFG Advisors lifted its position in Fidelity MSCI Utilities Index ETF by 5.8% in the first quarter. PFG Advisors now owns 5,705 shares of the company’s stock valued at $242,000 after acquiring an additional 312 shares during the last quarter. American National Bank lifted its position in Fidelity MSCI Utilities Index ETF by 27.8% in the second quarter. American National Bank now owns 1,616 shares of the company’s stock valued at $71,000 after acquiring an additional 352 shares during the last quarter. Finally, CWM LLC lifted its position in Fidelity MSCI Utilities Index ETF by 66.1% in the second quarter. CWM LLC now owns 1,146 shares of the company’s stock valued at $50,000 after acquiring an additional 456 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.