Fidelity MSCI Information Technology Index ETF (NYSEARCA:FTEC) Sees Large Volume Increase – Here’s What Happened

Fidelity MSCI Information Technology Index ETF (NYSEARCA:FTEC) shares saw strong trading volume on Monday . 645,391 shares changed hands during trading, an increase of 129% from the previous session’s volume of 281,652 shares.The stock last traded at $164.20 and had previously closed at $171.05.

Fidelity MSCI Information Technology Index ETF Trading Up 1.5 %

The business has a 50 day moving average of $183.43 and a two-hundred day moving average of $180.48. The firm has a market cap of $12.05 billion, a P/E ratio of 36.37 and a beta of 1.15.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of FTEC. SteelPeak Wealth LLC acquired a new stake in Fidelity MSCI Information Technology Index ETF during the fourth quarter worth approximately $53,085,000. Ameriprise Financial Inc. grew its holdings in shares of Fidelity MSCI Information Technology Index ETF by 242.7% during the 4th quarter. Ameriprise Financial Inc. now owns 216,721 shares of the company’s stock worth $40,067,000 after purchasing an additional 153,479 shares in the last quarter. LPL Financial LLC increased its position in shares of Fidelity MSCI Information Technology Index ETF by 47.6% in the fourth quarter. LPL Financial LLC now owns 388,608 shares of the company’s stock worth $71,846,000 after purchasing an additional 125,340 shares during the period. Eaton Financial Holdings Company LLC acquired a new position in Fidelity MSCI Information Technology Index ETF in the third quarter valued at about $12,347,000. Finally, Raymond James Financial Inc. acquired a new position in shares of Fidelity MSCI Information Technology Index ETF in the 4th quarter valued at approximately $12,377,000.

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.