Fidelity MSCI Materials Index ETF (NYSEARCA:FMAT) Hits New 1-Year High – What’s Next?

Fidelity MSCI Materials Index ETF (NYSEARCA:FMAT) shares reached a new 52-week high on Wednesday . The stock traded as high as $58.11 and last traded at $58.2460, with a volume of 35718 shares changing hands. The stock had previously closed at $57.22.

Fidelity MSCI Materials Index ETF Stock Performance

The business’s 50-day simple moving average is $53.14 and its 200 day simple moving average is $52.28. The firm has a market cap of $501.29 million, a P/E ratio of 23.26 and a beta of 1.07.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Flagship Harbor Advisors LLC purchased a new stake in shares of Fidelity MSCI Materials Index ETF during the 4th quarter valued at about $35,000. American National Bank & Trust bought a new stake in Fidelity MSCI Materials Index ETF during the fourth quarter valued at approximately $396,000. Centennial Wealth Advisory LLC increased its holdings in Fidelity MSCI Materials Index ETF by 6.1% during the fourth quarter. Centennial Wealth Advisory LLC now owns 5,324 shares of the company’s stock valued at $283,000 after buying an additional 305 shares during the last quarter. Wealthcare Advisory Partners LLC raised its position in Fidelity MSCI Materials Index ETF by 8.9% in the fourth quarter. Wealthcare Advisory Partners LLC now owns 23,355 shares of the company’s stock worth $1,240,000 after acquiring an additional 1,910 shares during the period. Finally, SeaCrest Wealth Management LLC grew its position in shares of Fidelity MSCI Materials Index ETF by 2.3% during the 4th quarter. SeaCrest Wealth Management LLC now owns 16,386 shares of the company’s stock valued at $902,000 after acquiring an additional 365 shares during the period.

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.