Fidelity MSCI Communication Services Index ETF (NYSEARCA:FCOM) Sees Large Volume Increase – Here’s Why

Fidelity MSCI Communication Services Index ETF (NYSEARCA:FCOM) saw unusually-strong trading volume on Thursday . Approximately 2,062,170 shares changed hands during mid-day trading, an increase of 881% from the previous session’s volume of 210,256 shares.The stock last traded at $75.3450 and had previously closed at $73.74.

Fidelity MSCI Communication Services Index ETF Price Performance

The firm’s 50-day moving average is $72.70 and its two-hundred day moving average is $70.17. The company has a market cap of $1.99 billion, a P/E ratio of 19.08 and a beta of 1.06.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. UBS Group AG lifted its holdings in shares of Fidelity MSCI Communication Services Index ETF by 2.4% in the 4th quarter. UBS Group AG now owns 74,672 shares of the company’s stock worth $5,472,000 after acquiring an additional 1,730 shares during the last quarter. Live Oak Investment Partners raised its position in Fidelity MSCI Communication Services Index ETF by 4.7% in the 4th quarter. Live Oak Investment Partners now owns 17,498 shares of the company’s stock worth $1,282,000 after purchasing an additional 785 shares during the period. Schmidt P J Investment Management Inc. bought a new stake in Fidelity MSCI Communication Services Index ETF in the fourth quarter worth about $296,000. EPG Wealth Management LLC boosted its position in shares of Fidelity MSCI Communication Services Index ETF by 2.0% during the fourth quarter. EPG Wealth Management LLC now owns 17,227 shares of the company’s stock valued at $1,262,000 after buying an additional 333 shares during the period. Finally, Kingswood Wealth Advisors LLC grew its stake in shares of Fidelity MSCI Communication Services Index ETF by 1.7% during the fourth quarter. Kingswood Wealth Advisors LLC now owns 90,399 shares of the company’s stock valued at $6,624,000 after buying an additional 1,532 shares during the last quarter.

Fidelity MSCI Communication Services Index ETF Company Profile

The Fidelity MSCI Communication Services Index ETF (FCOM) is an exchange-traded fund that mostly invests in communication services equity. The fund tracks a market-cap-weighted index of stocks in the US communication services sector. FCOM was launched on Oct 21, 2013 and is managed by Fidelity.