Parallel Advisors LLC Cuts Stake in Fidelity MSCI Information Technology Index ETF (NYSEARCA:FTEC)

Parallel Advisors LLC reduced its holdings in shares of Fidelity MSCI Information Technology Index ETF (NYSEARCA:FTEC) by 2.5% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,467 shares of the company’s stock after selling 89 shares during the quarter. Parallel Advisors LLC’s holdings in Fidelity MSCI Information Technology Index ETF were worth $595,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Bank of New Hampshire bought a new position in shares of Fidelity MSCI Information Technology Index ETF during the first quarter valued at $25,000. Lynx Investment Advisory bought a new position in shares of Fidelity MSCI Information Technology Index ETF during the second quarter valued at $37,000. Ables Iannone Moore & Associates Inc. bought a new position in shares of Fidelity MSCI Information Technology Index ETF during the fourth quarter valued at $34,000. Annis Gardner Whiting Capital Advisors LLC bought a new position in shares of Fidelity MSCI Information Technology Index ETF during the fourth quarter valued at $43,000. Finally, McClarren Financial Advisors Inc. lifted its holdings in shares of Fidelity MSCI Information Technology Index ETF by 488.7% during the first quarter. McClarren Financial Advisors Inc. now owns 312 shares of the company’s stock valued at $490,000 after purchasing an additional 259 shares in the last quarter.

Fidelity MSCI Information Technology Index ETF Stock Performance

FTEC stock opened at $168.22 on Wednesday. Fidelity MSCI Information Technology Index ETF has a fifty-two week low of $118.39 and a fifty-two week high of $181.11. The business’s 50-day moving average is $167.53 and its two-hundred day moving average is $162.10. The company has a market cap of $10.48 billion, a price-to-earnings ratio of 37.14 and a beta of 1.41.

About Fidelity MSCI Information Technology Index ETF

The Fidelity MSCI Information Technology Index ETF (FTEC) is an exchange-traded fund that mostly invests in information technology equity. The fund tracks a market-cap-weighted index of stocks in the broad US information technology sector. FTEC was launched on Oct 21, 2013 and is managed by Fidelity.