Fidelity MSCI Energy Index ETF (NYSEARCA:FENY) Sees Large Volume Increase – Should You Buy?

Fidelity MSCI Energy Index ETF (NYSEARCA:FENY) shares saw unusually-strong trading volume on Wednesday . Approximately 1,600,192 shares changed hands during mid-day trading, an increase of 121% from the previous session’s volume of 724,283 shares.The stock last traded at $25.21 and had previously closed at $24.91.

Fidelity MSCI Energy Index ETF Stock Performance

The company has a 50 day moving average of $24.87 and a 200 day moving average of $24.79. The stock has a market capitalization of $1.57 billion, a price-to-earnings ratio of 14.83 and a beta of 1.22.

Hedge Funds Weigh In On Fidelity MSCI Energy Index ETF

Several hedge funds and other institutional investors have recently modified their holdings of the business. Lido Advisors LLC lifted its position in Fidelity MSCI Energy Index ETF by 2.5% during the fourth quarter. Lido Advisors LLC now owns 1,661,510 shares of the company’s stock worth $39,610,000 after buying an additional 40,735 shares in the last quarter. Commonwealth Equity Services LLC increased its stake in shares of Fidelity MSCI Energy Index ETF by 15.4% in the 4th quarter. Commonwealth Equity Services LLC now owns 1,531,085 shares of the company’s stock worth $36,501,000 after acquiring an additional 204,749 shares during the last quarter. HighTower Advisors LLC raised its holdings in shares of Fidelity MSCI Energy Index ETF by 13.8% during the 4th quarter. HighTower Advisors LLC now owns 1,004,150 shares of the company’s stock worth $23,939,000 after acquiring an additional 121,506 shares during the period. AGF Management Ltd. boosted its position in shares of Fidelity MSCI Energy Index ETF by 17.4% during the 4th quarter. AGF Management Ltd. now owns 818,781 shares of the company’s stock valued at $19,520,000 after acquiring an additional 121,540 shares during the last quarter. Finally, LPL Financial LLC grew its holdings in shares of Fidelity MSCI Energy Index ETF by 113.4% in the fourth quarter. LPL Financial LLC now owns 713,726 shares of the company’s stock valued at $17,015,000 after purchasing an additional 379,299 shares during the period.

About Fidelity MSCI Energy Index ETF

The Fidelity MSCI Energy Index ETF (FENY) is an exchange-traded fund that is based on the MSCI USA IMI Energy 25\u002F50 index, a market-cap-weighted index of US energy companies FENY was launched on Oct 24, 2013 and is managed by Fidelity.