Traphagen Investment Advisors LLC Sells 72,148 Shares of Fidelity MSCI Utilities Index ETF (NYSEARCA:FUTY)

Traphagen Investment Advisors LLC lowered its position in Fidelity MSCI Utilities Index ETF (NYSEARCA:FUTY) by 35.3% in the third quarter, Holdings Channel.com reports. The institutional investor owned 132,479 shares of the company’s stock after selling 72,148 shares during the period. Fidelity MSCI Utilities Index ETF makes up about 0.7% of Traphagen Investment Advisors LLC’s portfolio, making the stock its 20th largest position. Traphagen Investment Advisors LLC’s holdings in Fidelity MSCI Utilities Index ETF were worth $6,865,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Sweeney & Michel LLC increased its holdings in shares of Fidelity MSCI Utilities Index ETF by 362.6% in the third quarter. Sweeney & Michel LLC now owns 76,080 shares of the company’s stock worth $3,996,000 after acquiring an additional 59,633 shares in the last quarter. Smith Shellnut Wilson LLC ADV increased its stake in Fidelity MSCI Utilities Index ETF by 669.5% during the 2nd quarter. Smith Shellnut Wilson LLC ADV now owns 45,578 shares of the company’s stock worth $2,004,000 after purchasing an additional 39,655 shares in the last quarter. Osaic Holdings Inc. increased its stake in Fidelity MSCI Utilities Index ETF by 17.2% during the 1st quarter. Osaic Holdings Inc. now owns 264,672 shares of the company’s stock worth $11,234,000 after purchasing an additional 38,867 shares in the last quarter. HBW Advisory Services LLC acquired a new stake in Fidelity MSCI Utilities Index ETF during the 2nd quarter worth approximately $1,570,000. Finally, Cedar Wealth Management LLC lifted its stake in Fidelity MSCI Utilities Index ETF by 114.2% in the second quarter. Cedar Wealth Management LLC now owns 40,118 shares of the company’s stock valued at $1,764,000 after buying an additional 21,387 shares in the last quarter.

Fidelity MSCI Utilities Index ETF Trading Down 1.1 %

Shares of FUTY stock traded down $0.60 during trading hours on Tuesday, hitting $51.77. 24,171 shares of the company were exchanged, compared to its average volume of 241,294. The company has a market capitalization of $1.37 billion, a PE ratio of 22.79 and a beta of 0.50. Fidelity MSCI Utilities Index ETF has a 52 week low of $36.68 and a 52 week high of $52.94. The business has a 50 day moving average of $50.20 and a two-hundred day moving average of $46.78.

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.