Fidelity MSCI Materials Index ETF (NYSEARCA:FMAT) Shares Down 0.8% – What’s Next?

Fidelity MSCI Materials Index ETF (NYSEARCA:FMAT)’s share price traded down 0.8% on Tuesday . The company traded as low as $59.71 and last traded at $59.76. 36,804 shares were traded during mid-day trading, a decline of 33% from the average session volume of 55,322 shares. The stock had previously closed at $60.24.

Fidelity MSCI Materials Index ETF Stock Down 0.8%

The stock has a fifty day moving average of $59.21 and a two-hundred day moving average of $59.13. The stock has a market cap of $603.58 million, a price-to-earnings ratio of 23.26 and a beta of 0.97.

Hedge Funds Weigh In On Fidelity MSCI Materials Index ETF

Large investors have recently made changes to their positions in the stock. Elevation Wealth Management LLC purchased a new stake in Fidelity MSCI Materials Index ETF during the second quarter worth about $328,000. Concurrent Investment Advisors LLC purchased a new position in Fidelity MSCI Materials Index ETF in the second quarter valued at about $200,000. Trust Co. of Vermont purchased a new position in Fidelity MSCI Materials Index ETF in the second quarter valued at about $67,000. Wealthcare Advisory Partners LLC lifted its position in shares of Fidelity MSCI Materials Index ETF by 12.3% during the 2nd quarter. Wealthcare Advisory Partners LLC now owns 25,902 shares of the company’s stock valued at $1,516,000 after acquiring an additional 2,827 shares during the period. Finally, NewEdge Advisors LLC boosted its stake in shares of Fidelity MSCI Materials Index ETF by 108.1% during the 1st quarter. NewEdge Advisors LLC now owns 11,602 shares of the company’s stock worth $669,000 after acquiring an additional 6,028 shares in the last quarter.

About Fidelity MSCI Materials Index ETF

The Fidelity MSCI Materials Index ETF (FMAT) is an exchange-traded fund that is based on the MSCI USA IMI Materials 25\u002F50 index, a market-cap-weighted index of stocks in the US basic materials sector across the entire market-cap spectrum. FMAT was launched on Oct 21, 2013 and is managed by Fidelity.