FENY - MSCI EnergyI am 80% bullish on the Energy ETF (FENY). I am planning to fill my position for August 2024 at $25.10.
I allocate a portion of my monthly salary to invest in ETFs. Currently, my position is with SPUS (S&P 500), but given the current bearish market for S&P's, FENY is my next best option for small c
Key stats
About Fidelity MSCI Energy Index ETF
Home page
Inception date
Oct 21, 2013
Structure
Open-Ended Fund
Dividend treatment
Distributes
Distribution tax treatment
Qualified dividends
Income tax type
Capital Gains
Max ST capital gains rate
39.60%
Max LT capital gains rate
20.00%
Primary advisor
Fidelity Management & Research Co. LLC
Distributor
Fidelity Distributors Corp.
FENY is part of a fund suite that marked Fidelity's official entry into the US sector ETF market. The fund offers a top-heavy portfolio in the US energy segment, with well over half of its portfolio weight in its top ten holdings, and a huge chunk of its allocation to the top few. Overall, its portfolio is broad, with allocations to every aspect of the oil and gas industries, and some allocations dedicated to coal and renewables. On December 1, 2020, FENY started tracking a capped version of its previous index, where the aggregate weight of issuers with over 5% weight in the index are now capped at 50% of the funds total asset. The fund uses a sampling strategy to track the index, which means the fund may not hold all the securities in the underlying index, but securities that provide a similar investment profile. The index is rebalanced quarterly
Classification
What's in the fund
Exposure type
Energy Minerals
Industrial Services
Stock breakdown by region
Top 10 holdings
FENY - MSCI EnergyI am 80% bullish on the Energy ETF (FENY). I am planning to fill my position for August 2024 at $25.10.
I allocate a portion of my monthly salary to invest in ETFs. Currently, my position is with SPUS (S&P 500), but given the current bearish market for S&P's, FENY is my next best option for small c
SECTOR-ENERGYThis sector has been on a pretty good run and seems to be running out of steam and is trying to fall past the gray support line for the last run near a longer term resistance line. This leads me to believe that the sector is nearing the top for the time being. As so, I do not feel this is a good s
FENY, weekly bullish flag?Taking a look at this as it a commision free energy ETF on Fidelity, Looks like a textbook bullish flag is forming. I personally am hoping for a slight retrace to 21.00 before and explosion to 23 and beyong. Weekly chart so may take a month to play out but something to monitor alongside the price of
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Summarizing what the indicators are suggesting.
Oscillators
Neutral
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Neutral
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Neutral
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Summary
Neutral
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Moving Averages
Neutral
SellBuy
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Moving Averages
Neutral
SellBuy
Strong sellStrong buy
Strong sellSellNeutralBuyStrong buy
Displays a symbol's price movements over previous years to identify recurring trends.