Fidelity MSCI Financials Index ETF (NYSEARCA:FNCL) Sees Unusually-High Trading Volume – Here’s Why

Shares of Fidelity MSCI Financials Index ETF (NYSEARCA:FNCL) saw unusually-strong trading volume on Thursday . Approximately 299,690 shares changed hands during trading, an increase of 182% from the previous session’s volume of 106,238 shares.The stock last traded at $68.37 and had previously closed at $68.68.

Fidelity MSCI Financials Index ETF Stock Performance

The stock’s fifty day simple moving average is $70.08 and its two-hundred day simple moving average is $64.77. The stock has a market capitalization of $1.92 billion, a P/E ratio of 14.87 and a beta of 0.96.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. AGF Management Ltd. lifted its stake in shares of Fidelity MSCI Financials Index ETF by 18.4% in the 2nd quarter. AGF Management Ltd. now owns 294,453 shares of the company’s stock valued at $17,061,000 after purchasing an additional 45,703 shares during the period. Vicus Capital acquired a new position in Fidelity MSCI Financials Index ETF in the third quarter valued at approximately $17,355,000. Thrivent Financial for Lutherans boosted its holdings in shares of Fidelity MSCI Financials Index ETF by 13.3% during the 3rd quarter. Thrivent Financial for Lutherans now owns 135,757 shares of the company’s stock worth $8,669,000 after buying an additional 15,899 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its position in shares of Fidelity MSCI Financials Index ETF by 266.0% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 98,131 shares of the company’s stock worth $5,686,000 after buying an additional 71,320 shares during the period. Finally, Quantitative Strategies Inc. increased its stake in shares of Fidelity MSCI Financials Index ETF by 3.2% in the 3rd quarter. Quantitative Strategies Inc. now owns 89,025 shares of the company’s stock valued at $5,685,000 after acquiring an additional 2,767 shares in the last quarter.

About Fidelity MSCI Financials Index ETF

The Fidelity MSCI Financials Index ETF (FNCL) is an exchange-traded fund that is based on the MSCI USA IMI Financials 25\u002F50 index, a market-cap-weighted index of US financial companies across the entire market-cap spectrum. FNCL was launched on Oct 21, 2013 and is managed by Fidelity.