Fidelity MSCI Financials Index ETF (NYSEARCA:FNCL) Sets New 12-Month High – Should You Buy?

Fidelity MSCI Financials Index ETF (NYSEARCA:FNCL)’s share price reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $64.67 and last traded at $64.59, with a volume of 20403 shares trading hands. The stock had previously closed at $63.89.

Fidelity MSCI Financials Index ETF Stock Up 1.0 %

The stock has a market cap of $1.79 billion, a price-to-earnings ratio of 14.87 and a beta of 0.96. The company has a 50 day simple moving average of $62.35 and a 200 day simple moving average of $59.84.

Hedge Funds Weigh In On Fidelity MSCI Financials Index ETF

A number of institutional investors have recently added to or reduced their stakes in FNCL. Trail Ridge Investment Advisors LLC bought a new stake in shares of Fidelity MSCI Financials Index ETF during the fourth quarter worth $202,000. Mather Group LLC. bought a new stake in Fidelity MSCI Financials Index ETF during the 1st quarter worth $92,000. Lynch & Associates IN increased its holdings in Fidelity MSCI Financials Index ETF by 8.8% in the 1st quarter. Lynch & Associates IN now owns 32,689 shares of the company’s stock worth $1,942,000 after purchasing an additional 2,642 shares in the last quarter. American National Bank raised its position in Fidelity MSCI Financials Index ETF by 73.5% in the first quarter. American National Bank now owns 1,216 shares of the company’s stock valued at $72,000 after purchasing an additional 515 shares during the last quarter. Finally, Traynor Capital Management Inc. boosted its stake in shares of Fidelity MSCI Financials Index ETF by 3.6% during the first quarter. Traynor Capital Management Inc. now owns 15,902 shares of the company’s stock valued at $945,000 after purchasing an additional 553 shares in the last quarter.

About Fidelity MSCI Financials Index ETF

The Fidelity MSCI Financials Index ETF (FNCL) is an exchange-traded fund that is based on the MSCI USA IMI Financials 25\u002F50 index, a market-cap-weighted index of US financial companies across the entire market-cap spectrum. FNCL was launched on Oct 21, 2013 and is managed by Fidelity.