Exchange Capital Management Inc. Cuts Stock Position in Fidelity MSCI Materials Index ETF (NYSEARCA:FMAT)

Exchange Capital Management Inc. lowered its stake in Fidelity MSCI Materials Index ETF (NYSEARCA:FMAT) by 6.2% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 18,869 shares of the company’s stock after selling 1,252 shares during the period. Exchange Capital Management Inc.’s holdings in Fidelity MSCI Materials Index ETF were worth $988,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Lynch & Associates IN raised its holdings in Fidelity MSCI Materials Index ETF by 6.4% during the fourth quarter. Lynch & Associates IN now owns 7,738 shares of the company’s stock valued at $377,000 after acquiring an additional 468 shares during the period. Corient Private Wealth LLC raised its holdings in Fidelity MSCI Materials Index ETF by 2.1% during the fourth quarter. Corient Private Wealth LLC now owns 30,651 shares of the company’s stock valued at $1,494,000 after acquiring an additional 636 shares during the period. Sachetta LLC bought a new stake in Fidelity MSCI Materials Index ETF during the fourth quarter valued at about $36,000. Sunbelt Securities Inc. increased its holdings in shares of Fidelity MSCI Materials Index ETF by 3.5% in the first quarter. Sunbelt Securities Inc. now owns 26,361 shares of the company’s stock worth $1,381,000 after purchasing an additional 889 shares during the last quarter. Finally, Yoder Wealth Management Inc. increased its holdings in shares of Fidelity MSCI Materials Index ETF by 12.0% in the fourth quarter. Yoder Wealth Management Inc. now owns 15,766 shares of the company’s stock worth $768,000 after purchasing an additional 1,688 shares during the last quarter.

Fidelity MSCI Materials Index ETF Trading Up 0.2 %

FMAT opened at $48.80 on Wednesday. The firm has a market cap of $492.88 million, a P/E ratio of 15.76 and a beta of 0.92. Fidelity MSCI Materials Index ETF has a 12 month low of $41.62 and a 12 month high of $52.77. The stock has a 50-day moving average of $50.70 and a 200 day moving average of $49.68.

About Fidelity MSCI Materials Index ETF

The Fidelity MSCI Materials Index ETF (FMAT) is an exchange-traded fund that is based on the MSCI USA IMI Materials 25\u002F50 index, a market-cap-weighted index of stocks in the US basic materials sector across the entire market-cap spectrum. FMAT was launched on Oct 21, 2013 and is managed by Fidelity.