The Fidelity MSCI Consumer Staples Index ETF (NYSEARCA:FSTA) experienced a notable decrease in short interest during February 2023. As of February 27, short interest stood at 134,231 shares, reflecting a decline of 15.4% from the previous total of 158,740 shares reported on February 12. Currently, approximately 0.5% of the ETF’s shares are sold short.
The short-interest ratio, based on an average daily trading volume of 179,407 shares, is now at 0.7 days. This metric indicates a relatively low level of short-selling activity in relation to the ETF’s trading volume.
Recent Trading Activity and Market Performance
On Monday, February 27, the Fidelity MSCI Consumer Staples ETF saw its share price increase by 0.5%, reaching $54.18. During the trading session, the ETF recorded a volume of 18,566 shares, significantly lower than its average volume of 220,859 shares. The ETF has a market capitalization of approximately $1.42 billion, a price-to-earnings (P/E) ratio of 22.37, and a beta of 0.56, indicating low volatility compared to the market.
Over the past year, the ETF has experienced a range in share price, with a 52-week low of $47.45 and a high of $56.93. Its 50-day simple moving average is currently $53.76, while the 200-day simple moving average stands at $51.24.
Institutional Investor Activity
Institutional trading has also influenced the dynamics of the Fidelity MSCI Consumer Staples ETF. Several institutional investors and hedge funds have made adjustments to their holdings in FSTA recently. For instance, Charles Schwab Investment Management Inc. increased its stake by 7.1% during the fourth quarter, now owning 2,543,555 shares valued at $125,117,000 after acquiring an additional 167,871 shares.
Similarly, Lido Advisors LLC raised its position by 5.1% in the second quarter, resulting in ownership of 1,399,498 shares worth $71,584,000 after an additional purchase of 67,375 shares. LPL Financial LLC also boosted its stake by 6.5% in the fourth quarter, now holding 524,438 shares valued at $25,797,000 following the acquisition of 31,965 shares.
AGF Management Ltd. increased its position by 10.2% during the third quarter, bringing its total to 468,321 shares valued at $23,341,000 after purchasing an additional 43,330 shares. Osaic Holdings Inc. made the most significant adjustment, amplifying its stake by 66.0% in the second quarter to hold 430,477 shares worth $22,035,000 after buying an additional 171,111 shares.
The Fidelity MSCI Consumer Staples Index ETF, launched on October 21, 2013, is designed to track the MSCI USA IMI Consumer Staples 25/50 Index. This index represents a market-cap-weighted selection of U.S. companies within the consumer staples sector, reflecting a diverse range of market capitalizations.
Investors are keeping a close watch on the ETF as it continues to navigate market trends and institutional interest.
