Fidelity MSCI Communication Services Index ETF (NYSEARCA:FCOM) Sees Unusually-High Trading Volume – Still a Buy?

Shares of Fidelity MSCI Communication Services Index ETF (NYSEARCA:FCOM) saw unusually-strong trading volume on Wednesday . Approximately 99,216 shares changed hands during trading, a decline of 33% from the previous session’s volume of 147,565 shares.The stock last traded at $70.77 and had previously closed at $69.48.

Fidelity MSCI Communication Services Index ETF Stock Down 0.7%

The stock has a market cap of $1.76 billion, a price-to-earnings ratio of 19.08 and a beta of 1.05. The company’s 50-day simple moving average is $72.44 and its 200-day simple moving average is $72.21.

Institutional Investors Weigh In On Fidelity MSCI Communication Services Index ETF

Several large investors have recently modified their holdings of FCOM. Vicus Capital lifted its holdings in shares of Fidelity MSCI Communication Services Index ETF by 4.2% during the fourth quarter. Vicus Capital now owns 362,496 shares of the company’s stock valued at $26,564,000 after purchasing an additional 14,451 shares during the last quarter. Thrivent Financial for Lutherans purchased a new position in Fidelity MSCI Communication Services Index ETF in the 4th quarter worth about $3,657,000. Lido Advisors LLC increased its stake in Fidelity MSCI Communication Services Index ETF by 10.4% in the 3rd quarter. Lido Advisors LLC now owns 2,062,288 shares of the company’s stock worth $146,361,000 after purchasing an additional 194,559 shares in the last quarter. Odyssey Capital Advisors Inc. acquired a new stake in Fidelity MSCI Communication Services Index ETF during the 4th quarter worth about $509,000. Finally, Redstone Wealth Management LLC acquired a new stake in Fidelity MSCI Communication Services Index ETF during the 4th quarter worth about $8,993,000.

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.