Fidelity MSCI Information Technology Index ETF (NYSEARCA:FTEC) Reaches New 12-Month High – What’s Next?

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

Fidelity MSCI Information Technology Index ETF Stock Performance

The company has a 50-day simple moving average of $186.82 and a 200 day simple moving average of $177.16. The company has a market capitalization of $11.95 billion, a P/E ratio of 37.14 and a beta of 1.41.

Institutional Trading of Fidelity MSCI Information Technology Index ETF

Institutional investors and hedge funds have recently modified their holdings of the company. Sanctuary Advisors LLC bought a new stake in shares of Fidelity MSCI Information Technology Index ETF during the second quarter valued at approximately $878,000. CWM LLC increased its position 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 during the period. JPMorgan Chase & Co. increased its position 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 period. FMR LLC increased its position in shares of Fidelity MSCI Information Technology Index ETF by 3.7% during the third quarter. FMR LLC now owns 159,393 shares of the company’s stock valued at $27,814,000 after purchasing an additional 5,739 shares during the period. Finally, Signal Advisors Wealth LLC increased its position in shares of Fidelity MSCI Information Technology Index ETF by 10.6% during the fourth quarter. Signal Advisors Wealth LLC now owns 1,600 shares of the company’s stock valued at $296,000 after purchasing an additional 153 shares during the period.

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.