Fidelity MSCI Information Technology Index ETF (NYSEARCA:FTEC) Reaches New 1-Year High – Still a Buy?

Fidelity MSCI Information Technology Index ETF (NYSEARCA:FTEC)’s share price reached a new 52-week high on Friday . The stock traded as high as $193.06 and last traded at $192.09, with a volume of 38791 shares changing hands. The stock had previously closed at $192.30.

Fidelity MSCI Information Technology Index ETF Trading Down 1.0 %

The stock has a market cap of $11.87 billion, a PE ratio of 37.14 and a beta of 1.41. The business has a fifty day simple moving average of $187.21 and a two-hundred day simple moving average of $177.35.

Institutional Trading of Fidelity MSCI Information Technology Index ETF

Hedge funds have recently modified their holdings of the business. Sanctuary Advisors LLC purchased a new position in Fidelity MSCI Information Technology Index ETF during the 2nd quarter valued at about $878,000. CWM LLC increased its stake in shares of Fidelity MSCI Information Technology Index ETF by 165.8% during the third quarter. CWM LLC now owns 2,278 shares of the company’s stock valued at $398,000 after purchasing an additional 1,421 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Fidelity MSCI Information Technology Index ETF by 5.4% during the third quarter. JPMorgan Chase & Co. now owns 128,648 shares of the company’s stock valued at $22,449,000 after purchasing an additional 6,629 shares during the last quarter. FMR LLC boosted its position in shares of Fidelity MSCI Information Technology Index ETF by 3.7% in the 3rd quarter. FMR LLC now owns 159,393 shares of the company’s stock worth $27,814,000 after purchasing an additional 5,739 shares in the last quarter. Finally, Signal Advisors Wealth LLC grew its stake in shares of Fidelity MSCI Information Technology Index ETF by 10.6% in the 4th quarter. Signal Advisors Wealth LLC now owns 1,600 shares of the company’s stock worth $296,000 after buying an additional 153 shares during the last quarter.

Fidelity MSCI Information Technology Index ETF Company Profile

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.