Fidelity MSCI Communication Services Index ETF (NYSEARCA:FCOM) Shares Gap Down to $49.10

Fidelity MSCI Communication Services Index ETF (NYSEARCA:FCOM) gapped down before the market opened on Thursday . The stock had previously closed at $49.10, but opened at $46.50. Fidelity MSCI Communication Services Index ETF shares last traded at $47.10, with a volume of 53,298 shares traded.

Fidelity MSCI Communication Services Index ETF Price Performance

The stock has a market capitalization of $1.05 billion, a price-to-earnings ratio of 27.52 and a beta of 1.22. The firm’s fifty day moving average is $48.86 and its 200-day moving average is $45.42.

Institutional Trading of Fidelity MSCI Communication Services Index ETF

Institutional investors have recently added to or reduced their stakes in the stock. Lido Advisors LLC raised its holdings in shares of Fidelity MSCI Communication Services Index ETF by 10.1% during the third quarter. Lido Advisors LLC now owns 1,544,241 shares of the company’s stock worth $61,322,000 after purchasing an additional 142,240 shares during the period. Envestnet Asset Management Inc. raised its holdings in shares of Fidelity MSCI Communication Services Index ETF by 15.8% during the third quarter. Envestnet Asset Management Inc. now owns 348,423 shares of the company’s stock worth $13,836,000 after purchasing an additional 47,543 shares during the period. Wells Fargo & Company MN raised its holdings in shares of Fidelity MSCI Communication Services Index ETF by 5.3% during the fourth quarter. Wells Fargo & Company MN now owns 270,243 shares of the company’s stock worth $12,038,000 after purchasing an additional 13,544 shares during the period. Aptus Capital Advisors LLC raised its holdings in shares of Fidelity MSCI Communication Services Index ETF by 10.0% during the third quarter. Aptus Capital Advisors LLC now owns 201,300 shares of the company’s stock worth $7,994,000 after purchasing an additional 18,300 shares during the period. Finally, AGF Management Ltd. raised its holdings in shares of Fidelity MSCI Communication Services Index ETF by 42.1% during the fourth quarter. AGF Management Ltd. now owns 200,924 shares of the company’s stock worth $8,950,000 after purchasing an additional 59,553 shares during the period.

About Fidelity MSCI Communication Services Index ETF

The Fidelity MSCI Communication Services Index ETF (FCOM) is an exchange-traded fund that mostly invests in communication services equity. The fund tracks a market-cap-weighted index of stocks in the US communication services sector. FCOM was launched on Oct 21, 2013 and is managed by Fidelity.