(FCLD) Fidelity Covington Trust - Ratings and Ratios

The Fidelity Covington Trust - Fidelity Cloud Computing ETF (BATS:FCLD) is designed to track the performance of companies enabling the adoption of cloud computing technologies. The fund typically invests at least 80% of its assets in securities from its underlying index, which includes a diverse range of global companies across various market capitalizations. These companies provide products or services that support cloud computing, such as infrastructure, platforms, and software-as-a-service (SaaS) solutions. The fund is non-diversified, meaning it can concentrate its holdings in a smaller number of securities, which may increase risk but also potentially enhance returns.

As of the latest data, the ETF has an average 20-day volume of 20,246 shares, with a last price of $27.02. Its short-term moving averages (SMA 20 and SMA 50) are currently at $28.69 and $28.53, respectively, while its long-term SMA 200 stands at $25.76. The Average True Range (ATR) is 0.63, indicating moderate price volatility. The fund has assets under management (AUM) of $85.90 million, reflecting its moderate size in the ETF landscape.

3-Month Forecast: Based on , the funds price is currently below its SMA 20 and SMA 50, suggesting potential near-term weakness. However, the SMA 200 remains supportive at $25.76, indicating a potential floor for the ETF. The ATR of 0.63 suggests that volatility is likely to remain manageable. From a perspective, the growing demand for cloud computing solutions could provide a tailwind for the funds underlying holdings. Overall, FCLD is expected to remain range-bound in the near term, with upside potential driven by the continued expansion of the cloud computing sector.