Fidelity MSCI Information Technology Index ETF (NYSEARCA:FTEC) Hits New 1-Year High – Still a Buy?

Shares of Fidelity MSCI Information Technology Index ETF (NYSEARCA:FTEC) reached a new 52-week high during trading on Monday . The stock traded as high as $187.00 and last traded at $186.97, with a volume of 52506 shares traded. The stock had previously closed at $185.27.

Fidelity MSCI Information Technology Index ETF Stock Up 1.1 %

The firm’s fifty day moving average price is $178.96 and its 200 day moving average price is $171.66. The stock has a market cap of $11.67 billion, a PE ratio of 37.14 and a beta of 1.41.

Hedge Funds Weigh In On Fidelity MSCI Information Technology Index ETF

Several hedge funds have recently modified their holdings of the stock. Sfmg LLC raised its stake in Fidelity MSCI Information Technology Index ETF by 54.8% during the third quarter. Sfmg LLC now owns 2,396 shares of the company’s stock valued at $418,000 after purchasing an additional 848 shares in the last quarter. Sanctuary Advisors LLC raised its stake in Fidelity MSCI Information Technology Index ETF by 578.0% during the third quarter. Sanctuary Advisors LLC now owns 34,708 shares of the company’s stock valued at $6,418,000 after purchasing an additional 29,589 shares in the last quarter. Eaton Financial Holdings Company LLC purchased a new stake in Fidelity MSCI Information Technology Index ETF during the third quarter valued at $12,347,000. MML Investors Services LLC raised its stake in Fidelity MSCI Information Technology Index ETF by 24.4% during the third quarter. MML Investors Services LLC now owns 51,150 shares of the company’s stock valued at $8,926,000 after purchasing an additional 10,033 shares in the last quarter. Finally, Zacks Investment Management purchased a new stake in Fidelity MSCI Information Technology Index ETF during the third quarter valued at $214,000.

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.