Fidelity MSCI Information Technology Index ETF (NYSEARCA:FTEC) Hits New 1-Year High – Here’s Why

Fidelity MSCI Information Technology Index ETF (NYSEARCA:FTEC) hit a new 52-week high on Monday . The stock traded as high as $186.53 and last traded at $186.49, with a volume of 22392 shares changing hands. The stock had previously closed at $184.90.

Fidelity MSCI Information Technology Index ETF Trading Up 0.2 %

The stock has a market capitalization of $11.54 billion, a P/E ratio of 37.14 and a beta of 1.41. The business has a 50-day moving average price of $177.45 and a two-hundred day moving average price of $170.62.

Institutional Investors Weigh In On Fidelity MSCI Information Technology Index ETF

Several institutional investors and hedge funds have recently bought and sold shares of the company. Aptus Capital Advisors LLC increased its holdings in Fidelity MSCI Information Technology Index ETF by 67.3% in the 3rd quarter. Aptus Capital Advisors LLC now owns 169 shares of the company’s stock valued at $29,000 after buying an additional 68 shares during the period. EverSource Wealth Advisors LLC bought a new position in Fidelity MSCI Information Technology Index ETF in the second quarter valued at approximately $32,000. Lynx Investment Advisory acquired a new position in Fidelity MSCI Information Technology Index ETF during the second quarter valued at approximately $37,000. Strategic Financial Concepts LLC acquired a new position in Fidelity MSCI Information Technology Index ETF during the second quarter valued at approximately $43,000. Finally, McClarren Financial Advisors Inc. lifted its stake in Fidelity MSCI Information Technology Index ETF by 851.9% during the second quarter. McClarren Financial Advisors Inc. now owns 514 shares of the company’s stock worth $88,000 after purchasing an additional 460 shares during the last quarter.

About Fidelity MSCI Information Technology Index ETF

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.