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

Fidelity MSCI Materials Index ETF (NYSEARCA:FMAT) shares hit a new 52-week high during trading on Wednesday . The company traded as high as $54.94 and last traded at $54.94, with a volume of 8820 shares changing hands. The stock had previously closed at $54.42.

Fidelity MSCI Materials Index ETF Stock Performance

The business’s fifty day moving average is $52.19 and its 200-day moving average is $51.26. The firm has a market cap of $553.99 million, a P/E ratio of 15.76 and a beta of 0.92.

Institutional Trading of Fidelity MSCI Materials Index ETF

Several institutional investors have recently added to or reduced their stakes in the stock. Sunbelt Securities Inc. raised its position in shares of Fidelity MSCI Materials Index ETF by 1.5% in the 2nd quarter. Sunbelt Securities Inc. now owns 26,746 shares of the company’s stock worth $1,322,000 after acquiring an additional 385 shares in the last quarter. SeaCrest Wealth Management LLC grew its holdings in Fidelity MSCI Materials Index ETF by 2.9% in the third quarter. SeaCrest Wealth Management LLC now owns 14,533 shares of the company’s stock worth $788,000 after purchasing an additional 403 shares during the period. Lynch & Associates IN grew its stake in shares of Fidelity MSCI Materials Index ETF by 4.8% in the 3rd quarter. Lynch & Associates IN now owns 9,607 shares of the company’s stock valued at $521,000 after buying an additional 440 shares during the period. J.W. Cole Advisors Inc. grew its stake in Fidelity MSCI Materials Index ETF by 3.4% in the second quarter. J.W. Cole Advisors Inc. now owns 17,547 shares of the company’s stock valued at $867,000 after acquiring an additional 573 shares during the period. Finally, Mather Group LLC. grew its position in Fidelity MSCI Materials Index ETF by 1.9% in the 2nd quarter. Mather Group LLC. now owns 32,768 shares of the company’s stock valued at $1,716,000 after purchasing an additional 598 shares during the period.

Fidelity MSCI Materials Index ETF Company Profile

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.