Fidelity MSCI Information Technology Index ETF (NYSEARCA:FTEC) Sees Strong Trading Volume – Should You Buy?

Fidelity MSCI Information Technology Index ETF (NYSEARCA:FTEC) shares saw strong trading volume on Monday . 645,391 shares were traded during trading, an increase of 129% from the previous session’s volume of 281,652 shares.The stock last traded at $164.20 and had previously closed at $171.05.

Fidelity MSCI Information Technology Index ETF Stock Down 4.5 %

The business’s 50 day simple moving average is $184.33 and its 200 day simple moving average is $180.59. The company has a market capitalization of $11.90 billion, a PE ratio of 36.37 and a beta of 1.15.

Institutional Trading of Fidelity MSCI Information Technology Index ETF

Large investors have recently added to or reduced their stakes in the company. Lido Advisors LLC increased its holdings in shares of Fidelity MSCI Information Technology Index ETF by 2.0% in the 4th quarter. Lido Advisors LLC now owns 1,951,041 shares of the company’s stock valued at $360,708,000 after purchasing an additional 37,440 shares during the period. CHURCHILL MANAGEMENT Corp increased its stake in Fidelity MSCI Information Technology Index ETF by 0.6% in the 4th quarter. CHURCHILL MANAGEMENT Corp now owns 1,291,314 shares of the company’s stock valued at $238,738,000 after buying an additional 7,974 shares during the period. AGF Management Ltd. lifted its position in Fidelity MSCI Information Technology Index ETF by 2.9% in the 4th quarter. AGF Management Ltd. now owns 591,343 shares of the company’s stock worth $109,327,000 after buying an additional 16,514 shares in the last quarter. LPL Financial LLC boosted its stake in shares of Fidelity MSCI Information Technology Index ETF by 47.6% during the 4th quarter. LPL Financial LLC now owns 388,608 shares of the company’s stock valued at $71,846,000 after buying an additional 125,340 shares during the period. Finally, SteelPeak Wealth LLC acquired a new stake in shares of Fidelity MSCI Information Technology Index ETF during the 4th quarter valued at $53,085,000.

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.