Fidelity MSCI Real Estate Index ETF (NYSEARCA:FREL) Sets New 1-Year High – Still a Buy?

Fidelity MSCI Real Estate Index ETF (NYSEARCA:FREL) shares reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $29.47 and last traded at $29.44, with a volume of 71772 shares. The stock had previously closed at $29.05.

Fidelity MSCI Real Estate Index ETF Stock Performance

The company has a market capitalization of $1.45 billion, a price-to-earnings ratio of 34.96 and a beta of 1.00. The firm has a 50-day simple moving average of $28.21 and a two-hundred day simple moving average of $27.75.

Hedge Funds Weigh In On Fidelity MSCI Real Estate Index ETF

Several hedge funds and other institutional investors have recently added to or reduced their stakes in FREL. Prospect Financial Group LLC increased its position in shares of Fidelity MSCI Real Estate Index ETF by 3.8% during the first quarter. Prospect Financial Group LLC now owns 116,981 shares of the company’s stock worth $3,148,000 after acquiring an additional 4,244 shares during the period. Beaumont Financial Advisors LLC raised its position in Fidelity MSCI Real Estate Index ETF by 14.4% in the 1st quarter. Beaumont Financial Advisors LLC now owns 60,958 shares of the company’s stock valued at $1,640,000 after purchasing an additional 7,657 shares in the last quarter. Nwam LLC boosted its stake in shares of Fidelity MSCI Real Estate Index ETF by 9.2% in the 1st quarter. Nwam LLC now owns 76,616 shares of the company’s stock valued at $2,062,000 after buying an additional 6,476 shares during the period. Riverpoint Wealth Management Holdings LLC grew its position in shares of Fidelity MSCI Real Estate Index ETF by 5.7% during the first quarter. Riverpoint Wealth Management Holdings LLC now owns 555,858 shares of the company’s stock worth $14,958,000 after buying an additional 30,075 shares in the last quarter. Finally, Beckerman Institutional LLC increased its stake in shares of Fidelity MSCI Real Estate Index ETF by 7.4% during the first quarter. Beckerman Institutional LLC now owns 70,108 shares of the company’s stock worth $1,887,000 after buying an additional 4,837 shares during the period.

About Fidelity MSCI Real Estate Index ETF

The Fidelity MSCI Real Estate Index ETF (FREL) is an exchange-traded fund that is based on the MSCI US IMI\u002FReal Estate 25-25 index. The fund tracks a cap-weighted index of US REIT and real estate companies across the entire market-cap spectrum. FREL was launched on Feb 2, 2015 and is managed by Fidelity.