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

Fidelity MSCI Information Technology Index ETF (NYSEARCA:FTEC) hit a new 52-week high on Wednesday . The stock traded as high as $182.12 and last traded at $182.09, with a volume of 252253 shares. The stock had previously closed at $176.71.

Fidelity MSCI Information Technology Index ETF Stock Up 3.1 %

The company has a fifty day moving average of $173.07 and a two-hundred day moving average of $167.57. The stock has a market capitalization of $11.35 billion, a price-to-earnings ratio of 37.14 and a beta of 1.41.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of FTEC. Aptus Capital Advisors LLC raised its position in Fidelity MSCI Information Technology Index ETF by 67.3% in the third quarter. Aptus Capital Advisors LLC now owns 169 shares of the company’s stock worth $29,000 after acquiring an additional 68 shares in the last quarter. EverSource Wealth Advisors LLC purchased a new position in shares of Fidelity MSCI Information Technology Index ETF in the second quarter valued at $32,000. Lynx Investment Advisory purchased a new position in shares of Fidelity MSCI Information Technology Index ETF in the second quarter valued at $37,000. Strategic Financial Concepts LLC purchased a new position in shares of Fidelity MSCI Information Technology Index ETF in the second quarter valued at $43,000. Finally, Advisors Preferred LLC purchased a new position in shares of Fidelity MSCI Information Technology Index ETF in the first quarter valued at $63,000.

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.