Fidelity MSCI Communication Services Index ETF (NYSEARCA:FCOM) Shares Gap Down to $49.10

Fidelity MSCI Communication Services Index ETF (NYSEARCA:FCOM) shares gapped down before the market opened on Thursday . The stock had previously closed at $49.10, but opened at $46.50. Fidelity MSCI Communication Services Index ETF shares last traded at $47.10, with a volume of 53,298 shares.

Fidelity MSCI Communication Services Index ETF Stock Performance

The company has a 50-day moving average price of $48.87 and a 200-day moving average price of $45.35. The firm has a market capitalization of $1.02 billion, a price-to-earnings ratio of 27.52 and a beta of 1.22.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in FCOM. American National Bank lifted its holdings in shares of Fidelity MSCI Communication Services Index ETF by 57.1% in the 1st quarter. American National Bank now owns 1,277 shares of the company’s stock valued at $63,000 after purchasing an additional 464 shares during the last quarter. Sunbelt Securities Inc. lifted its holdings in shares of Fidelity MSCI Communication Services Index ETF by 25.6% in the 1st quarter. Sunbelt Securities Inc. now owns 2,349 shares of the company’s stock valued at $116,000 after purchasing an additional 479 shares during the last quarter. Cambridge Investment Research Advisors Inc. lifted its holdings in shares of Fidelity MSCI Communication Services Index ETF by 1.0% in the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 54,668 shares of the company’s stock valued at $2,435,000 after purchasing an additional 519 shares during the last quarter. Principal Securities Inc. purchased a new stake in Fidelity MSCI Communication Services Index ETF during the 4th quarter valued at approximately $29,000. Finally, Vista Investment Management raised its stake in Fidelity MSCI Communication Services Index ETF by 4.7% during the 3rd quarter. Vista Investment Management now owns 16,191 shares of the company’s stock valued at $643,000 after acquiring an additional 720 shares during the last quarter.

About Fidelity MSCI Communication Services Index ETF

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.