Meridian Wealth Management LLC Makes New Investment in Fidelity MSCI Materials Index ETF (NYSEARCA:FMAT)

Meridian Wealth Management LLC acquired a new stake in shares of Fidelity MSCI Materials Index ETF (NYSEARCA:FMAT) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 4,604 shares of the company’s stock, valued at approximately $250,000.

Several other hedge funds have also recently made changes to their positions in the company. Cetera Investment Advisers increased its holdings in Fidelity MSCI Materials Index ETF by 40.9% in the 1st quarter. Cetera Investment Advisers now owns 188,753 shares of the company’s stock worth $9,885,000 after buying an additional 54,824 shares during the period. Cetera Advisors LLC purchased a new stake in shares of Fidelity MSCI Materials Index ETF in the 1st quarter valued at $1,837,000. Pathway Financial Advisers LLC acquired a new stake in shares of Fidelity MSCI Materials Index ETF in the first quarter worth $169,000. Mather Group LLC. raised its holdings in shares of Fidelity MSCI Materials Index ETF by 1.9% during the second quarter. Mather Group LLC. now owns 32,768 shares of the company’s stock worth $1,716,000 after purchasing an additional 598 shares during the last quarter. Finally, Park Avenue Securities LLC lifted its position in Fidelity MSCI Materials Index ETF by 8.9% during the second quarter. Park Avenue Securities LLC now owns 29,225 shares of the company’s stock valued at $1,445,000 after purchasing an additional 2,381 shares during the period.

Fidelity MSCI Materials Index ETF Stock Performance

NYSEARCA:FMAT opened at $54.57 on Tuesday. The firm’s fifty day moving average is $53.59 and its two-hundred day moving average is $51.81. The firm has a market cap of $551.16 million, a price-to-earnings ratio of 15.76 and a beta of 0.92. Fidelity MSCI Materials Index ETF has a one year low of $45.32 and a one year high of $55.28.

About Fidelity MSCI Materials Index ETF

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.