Fidelity MSCI Materials Index ETF (NYSEARCA:FMAT) Sets New 52-Week Low – Should You Sell?

Fidelity MSCI Materials Index ETF (NYSEARCA:FMAT) shares hit a new 52-week low during trading on Monday . The company traded as low as $47.24 and last traded at $47.79, with a volume of 6540 shares. The stock had previously closed at $47.95.

Fidelity MSCI Materials Index ETF Stock Up 0.4 %

The company has a market capitalization of $521.38 million, a price-to-earnings ratio of 24.29 and a beta of 1.13. The business has a fifty day simple moving average of $49.91 and a two-hundred day simple moving average of $51.38.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. JPMorgan Chase & Co. grew its holdings in shares of Fidelity MSCI Materials Index ETF by 7.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 26,938 shares of the company’s stock worth $1,460,000 after purchasing an additional 1,833 shares during the last quarter. Park Avenue Securities LLC grew its stake in Fidelity MSCI Materials Index ETF by 25.7% during the fourth quarter. Park Avenue Securities LLC now owns 38,481 shares of the company’s stock worth $1,854,000 after buying an additional 7,872 shares during the last quarter. Orion Portfolio Solutions LLC increased its holdings in shares of Fidelity MSCI Materials Index ETF by 4.3% during the third quarter. Orion Portfolio Solutions LLC now owns 5,799 shares of the company’s stock worth $314,000 after buying an additional 241 shares in the last quarter. MML Investors Services LLC raised its stake in shares of Fidelity MSCI Materials Index ETF by 20.6% in the third quarter. MML Investors Services LLC now owns 7,810 shares of the company’s stock valued at $423,000 after acquiring an additional 1,332 shares during the last quarter. Finally, Lifeworks Advisors LLC boosted its holdings in shares of Fidelity MSCI Materials Index ETF by 26.8% in the 4th quarter. Lifeworks Advisors LLC now owns 26,988 shares of the company’s stock worth $1,301,000 after acquiring an additional 5,697 shares in the last quarter.

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.