Fidelity MSCI Information Technology Index ETF (NYSEARCA:FTEC) Hits New 52-Week High – What’s Next?

Fidelity MSCI Information Technology Index ETF (NYSEARCA:FTEC)’s share price hit a new 52-week high on Thursday . The stock traded as high as $261.61 and last traded at $261.50, with a volume of 383734 shares. The stock had previously closed at $254.87.

Fidelity MSCI Information Technology Index ETF Price Performance

The stock has a market cap of $19.01 billion, a price-to-earnings ratio of 35.45 and a beta of 1.31. The firm has a fifty day moving average of $223.91 and a 200 day moving average of $224.90.

Institutional Trading of Fidelity MSCI Information Technology Index ETF

Hedge funds and other institutional investors have recently modified their holdings of the stock. Walkner Condon Financial Advisors LLC boosted its position in shares of Fidelity MSCI Information Technology Index ETF by 5.1% during the 1st quarter. Walkner Condon Financial Advisors LLC now owns 969 shares of the company’s stock valued at $202,000 after acquiring an additional 47 shares during the last quarter. Founders Financial Alliance LLC increased its position in Fidelity MSCI Information Technology Index ETF by 2.0% during the fourth quarter. Founders Financial Alliance LLC now owns 2,487 shares of the company’s stock worth $559,000 after purchasing an additional 49 shares during the last quarter. Smithfield Trust Co increased its position in Fidelity MSCI Information Technology Index ETF by 2.1% during the fourth quarter. Smithfield Trust Co now owns 2,425 shares of the company’s stock worth $544,000 after purchasing an additional 50 shares during the last quarter. Instrumental Wealth LLC raised its stake in Fidelity MSCI Information Technology Index ETF by 1.8% during the third quarter. Instrumental Wealth LLC now owns 2,928 shares of the company’s stock worth $691,000 after purchasing an additional 52 shares during the period. Finally, Global Retirement Partners LLC raised its stake in Fidelity MSCI Information Technology Index ETF by 2.9% during the third quarter. Global Retirement Partners LLC now owns 1,892 shares of the company’s stock worth $420,000 after purchasing an additional 54 shares during the period.

Fidelity MSCI Information Technology Index ETF Company Profile

The Fidelity MSCI Information Technology Index ETF (FTEC) is an exchange-traded fund that mostly invests in information technology equity. The fund tracks a market-cap-weighted index of stocks in the broad US information technology sector. FTEC was launched on Oct 21, 2013 and is managed by Fidelity.