Fidelity MSCI Energy Index ETF (NYSEARCA:FENY) Sets New 12-Month High – Still a Buy?

Fidelity MSCI Energy Index ETF (NYSEARCA:FENY)’s stock price reached a new 52-week high on Monday. The company traded as high as $38.18 and last traded at $37.8770, with a volume of 1,401,543 shares trading hands. The stock had previously closed at $37.97.

Fidelity MSCI Energy Index ETF Stock Down 2.0%

The firm has a market capitalization of $2.32 billion, a PE ratio of 15.17 and a beta of 0.50. The firm’s fifty day simple moving average is $35.66 and its 200-day simple moving average is $32.32.

Hedge Funds Weigh In On Fidelity MSCI Energy Index ETF

Hedge funds have recently added to or reduced their stakes in the company. Envestnet Asset Management Inc. lifted its position in Fidelity MSCI Energy Index ETF by 77.2% in the 2nd quarter. Envestnet Asset Management Inc. now owns 1,516,919 shares of the company’s stock valued at $44,840,000 after acquiring an additional 660,650 shares in the last quarter. Gimbal Financial bought a new stake in shares of Fidelity MSCI Energy Index ETF in the 3rd quarter worth $6,129,000. Proficio Capital Partners LLC bought a new stake in shares of Fidelity MSCI Energy Index ETF in the 2nd quarter worth $4,242,000. Park Avenue Securities LLC bought a new stake in shares of Fidelity MSCI Energy Index ETF in the 3rd quarter worth $3,694,000. Finally, Cetera Investment Advisers raised its stake in shares of Fidelity MSCI Energy Index ETF by 29.4% in the first quarter. Cetera Investment Advisers now owns 428,397 shares of the company’s stock worth $14,574,000 after purchasing an additional 97,412 shares during the last quarter.

About Fidelity MSCI Energy Index ETF

The Fidelity MSCI Energy Index ETF (FENY) is an exchange-traded fund that is based on the MSCI USA IMI Energy 25\u002F50 index, a market-cap-weighted index of US energy companies FENY was launched on Oct 24, 2013 and is managed by Fidelity.