Fidelity MSCI Financials Index ETF (NYSEARCA:FNCL) Hits New 52-Week High – Should You Buy?

Fidelity MSCI Financials Index ETF (NYSEARCA:FNCL) reached a new 52-week high during trading on Wednesday . The stock traded as high as $73.37 and last traded at $73.37, with a volume of 5186 shares traded. The stock had previously closed at $73.12.

Fidelity MSCI Financials Index ETF Price Performance

The firm has a market cap of $2.04 billion, a P/E ratio of 14.87 and a beta of 0.96. The stock’s 50-day simple moving average is $67.32 and its two-hundred day simple moving average is $62.61.

Hedge Funds Weigh In On Fidelity MSCI Financials Index ETF

Hedge funds have recently added to or reduced their stakes in the company. Franklin Resources Inc. boosted its position in shares of Fidelity MSCI Financials Index ETF by 43.4% during the third quarter. Franklin Resources Inc. now owns 3,306 shares of the company’s stock valued at $219,000 after buying an additional 1,000 shares during the period. Sunbelt Securities Inc. lifted its stake in shares of Fidelity MSCI Financials Index ETF by 4.8% during the 3rd quarter. Sunbelt Securities Inc. now owns 7,916 shares of the company’s stock worth $505,000 after acquiring an additional 363 shares during the last quarter. Glass Jacobson Investment Advisors llc grew its position in Fidelity MSCI Financials Index ETF by 2.6% in the 3rd quarter. Glass Jacobson Investment Advisors llc now owns 12,373 shares of the company’s stock valued at $790,000 after acquiring an additional 316 shares during the last quarter. FSA Wealth Management LLC purchased a new stake in Fidelity MSCI Financials Index ETF in the third quarter worth $34,000. Finally, FMR LLC lifted its position in shares of Fidelity MSCI Financials Index ETF by 6.1% during the third quarter. FMR LLC now owns 60,002 shares of the company’s stock worth $3,831,000 after purchasing an additional 3,438 shares during 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.