Fidelity MSCI Energy Index ETF (NYSEARCA:FENY) Sees Strong Trading Volume – Still a Buy?

Shares of Fidelity MSCI Energy Index ETF (NYSEARCA:FENY) saw unusually-high trading volume on Friday . Approximately 1,729,107 shares were traded during mid-day trading, an increase of 72% from the previous session’s volume of 1,005,564 shares.The stock last traded at $24.24 and had previously closed at $23.95.

Fidelity MSCI Energy Index ETF Price Performance

The company’s 50 day moving average is $22.63 and its two-hundred day moving average is $23.96. The firm has a market cap of $1.42 billion, a P/E ratio of 14.19 and a beta of 0.79.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Lido Advisors LLC increased its holdings in shares of 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 holdings in shares of Fidelity MSCI Energy Index ETF by 15.4% during the fourth quarter. Commonwealth Equity Services LLC now owns 1,531,085 shares of the company’s stock worth $36,501,000 after buying an additional 204,749 shares in the last quarter. HighTower Advisors LLC increased its holdings in shares of Fidelity MSCI Energy Index ETF by 1.8% during the first quarter. HighTower Advisors LLC now owns 1,022,058 shares of the company’s stock worth $26,114,000 after buying an additional 17,908 shares in the last quarter. AGF Management Ltd. increased its holdings in shares of Fidelity MSCI Energy Index ETF by 2.7% during the first quarter. AGF Management Ltd. now owns 840,702 shares of the company’s stock worth $21,480,000 after buying an additional 21,921 shares in the last quarter. Finally, LPL Financial LLC increased its holdings in shares of Fidelity MSCI Energy Index ETF by 10.6% during the first quarter. LPL Financial LLC now owns 789,319 shares of the company’s stock worth $20,167,000 after buying an additional 75,593 shares in the last quarter.

Fidelity MSCI Energy Index ETF Company Profile

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.