Traphagen Investment Advisors LLC Trims Stock Holdings in Fidelity MSCI Utilities Index ETF (NYSEARCA:FUTY)

Traphagen Investment Advisors LLC lowered its position in Fidelity MSCI Utilities Index ETF (NYSEARCA:FUTY) by 23.6% in the first quarter, Holdings Channel.com reports. The institutional investor owned 69,016 shares of the company’s stock after selling 21,270 shares during the period. Fidelity MSCI Utilities Index ETF comprises approximately 0.4% of Traphagen Investment Advisors LLC’s holdings, making the stock its 28th largest position. Traphagen Investment Advisors LLC’s holdings in Fidelity MSCI Utilities Index ETF were worth $3,516,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in FUTY. Bank of America Corp DE lifted its stake in Fidelity MSCI Utilities Index ETF by 89.8% in the fourth quarter. Bank of America Corp DE now owns 8,822,859 shares of the company’s stock valued at $430,291,000 after buying an additional 4,175,298 shares during the last quarter. Demars Financial Group LLC increased its holdings in shares of Fidelity MSCI Utilities Index ETF by 4,647.2% in the fourth quarter. Demars Financial Group LLC now owns 544,358 shares of the company’s stock valued at $26,548,000 after purchasing an additional 532,891 shares during the period. Aptus Capital Advisors LLC acquired a new position in shares of Fidelity MSCI Utilities Index ETF in the fourth quarter valued at approximately $13,218,000. Two Sigma Investments LP acquired a new position in shares of Fidelity MSCI Utilities Index ETF in the fourth quarter valued at approximately $9,227,000. Finally, LPL Financial LLC increased its holdings in shares of Fidelity MSCI Utilities Index ETF by 56.7% in the fourth quarter. LPL Financial LLC now owns 470,099 shares of the company’s stock valued at $22,927,000 after purchasing an additional 170,067 shares during the period.

Fidelity MSCI Utilities Index ETF Trading Down 0.7%

NYSEARCA:FUTY opened at $52.49 on Monday. The firm has a market cap of $1.82 billion, a P/E ratio of 20.47 and a beta of 0.60. The stock’s 50 day simple moving average is $51.36 and its 200-day simple moving average is $50.61. Fidelity MSCI Utilities Index ETF has a 12-month low of $43.62 and a 12-month high of $53.65.

Fidelity MSCI Utilities Index ETF Profile

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.