Fidelity MSCI Communication Services Index ETF (NYSEARCA:FCOM) Sets New 52-Week High at $53.69

Fidelity MSCI Communication Services Index ETF (NYSEARCA:FCOM)’s stock price reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $53.69 and last traded at $53.50, with a volume of 49122 shares traded. The stock had previously closed at $53.28.

Fidelity MSCI Communication Services Index ETF Price Performance

The company has a 50 day simple moving average of $51.78 and a 200-day simple moving average of $50.74. The stock has a market capitalization of $1.16 billion, a P/E ratio of 26.44 and a beta of 1.22.

Hedge Funds Weigh In On Fidelity MSCI Communication Services Index ETF

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Advisory Services Network LLC lifted its stake in shares of Fidelity MSCI Communication Services Index ETF by 115.7% during the 4th quarter. Advisory Services Network LLC now owns 25,460 shares of the company’s stock valued at $1,134,000 after buying an additional 13,659 shares in the last quarter. Sunbelt Securities Inc. lifted its position in shares of Fidelity MSCI Communication Services Index ETF by 25.6% during the first quarter. Sunbelt Securities Inc. now owns 2,349 shares of the company’s stock worth $116,000 after acquiring an additional 479 shares in the last quarter. Lynch & Associates IN boosted its holdings in shares of Fidelity MSCI Communication Services Index ETF by 2.7% in the second quarter. Lynch & Associates IN now owns 23,552 shares of the company’s stock worth $1,230,000 after acquiring an additional 625 shares during the period. Axxcess Wealth Management LLC grew its position in shares of Fidelity MSCI Communication Services Index ETF by 211.4% in the second quarter. Axxcess Wealth Management LLC now owns 40,248 shares of the company’s stock valued at $2,102,000 after purchasing an additional 27,324 shares in the last quarter. Finally, CX Institutional raised its stake in shares of Fidelity MSCI Communication Services Index ETF by 15.2% during the 2nd quarter. CX Institutional now owns 13,446 shares of the company’s stock valued at $702,000 after purchasing an additional 1,777 shares during the period.

Fidelity MSCI Communication Services Index ETF Company Profile

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.