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

Fidelity MSCI Information Technology Index ETF (NYSEARCA:FTEC)’s share price hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $181.52 and last traded at $181.43, with a volume of 120496 shares traded. The stock had previously closed at $179.26.

Fidelity MSCI Information Technology Index ETF Stock Performance

The firm’s 50 day moving average is $172.53 and its 200 day moving average is $166.57. The stock has a market cap of $10.78 billion, a P/E ratio of 37.14 and a beta of 1.41.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Armor Investment Advisors LLC raised its holdings in shares of Fidelity MSCI Information Technology Index ETF by 25.7% during the third quarter. Armor Investment Advisors LLC now owns 78,869 shares of the company’s stock worth $13,763,000 after purchasing an additional 16,105 shares during the last quarter. ASB Consultores LLC purchased a new position in Fidelity MSCI Information Technology Index ETF during the third quarter worth approximately $956,000. Cary Street Partners Asset Management LLC purchased a new stake in shares of Fidelity MSCI Information Technology Index ETF in the third quarter valued at approximately $923,000. Janney Montgomery Scott LLC increased its position in shares of Fidelity MSCI Information Technology Index ETF by 37.4% in the third quarter. Janney Montgomery Scott LLC now owns 19,569 shares of the company’s stock valued at $3,415,000 after buying an additional 5,322 shares in the last quarter. Finally, Farther Finance Advisors LLC lifted its holdings in Fidelity MSCI Information Technology Index ETF by 45.8% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,683 shares of the company’s stock valued at $294,000 after purchasing an additional 529 shares in the last quarter.

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.