Absolute Capital Management LLC Takes $717,000 Position in Fidelity MSCI Materials Index ETF (NYSEARCA:FMAT)

Absolute Capital Management LLC acquired a new stake in Fidelity MSCI Materials Index ETF (NYSEARCA:FMAT) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 14,709 shares of the company’s stock, valued at approximately $717,000. Absolute Capital Management LLC owned 0.15% of Fidelity MSCI Materials Index ETF at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the business. Certified Advisory Corp lifted its position in Fidelity MSCI Materials Index ETF by 28.5% in the third quarter. Certified Advisory Corp now owns 47,319 shares of the company’s stock worth $2,091,000 after purchasing an additional 10,496 shares during the period. LPL Financial LLC lifted its position in Fidelity MSCI Materials Index ETF by 12.3% in the third quarter. LPL Financial LLC now owns 90,678 shares of the company’s stock worth $4,007,000 after purchasing an additional 9,964 shares during the period. Peak Financial Management Inc. lifted its position in Fidelity MSCI Materials Index ETF by 1.1% in the third quarter. Peak Financial Management Inc. now owns 156,679 shares of the company’s stock worth $6,924,000 after purchasing an additional 1,701 shares during the period. B.O.S.S. Retirement Advisors LLC bought a new position in Fidelity MSCI Materials Index ETF in the fourth quarter worth $275,000. Finally, Tower Research Capital LLC TRC lifted its position in Fidelity MSCI Materials Index ETF by 589,750.0% in the third quarter. Tower Research Capital LLC TRC now owns 11,797 shares of the company’s stock worth $521,000 after purchasing an additional 11,795 shares during the period.

Fidelity MSCI Materials Index ETF Price Performance

Shares of FMAT stock opened at $50.31 on Friday. The stock has a market cap of $508.13 million, a P/E ratio of 15.43 and a beta of 0.97. Fidelity MSCI Materials Index ETF has a one year low of $41.62 and a one year high of $52.77. The stock has a fifty day moving average price of $50.60 and a 200 day moving average price of $47.59.

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.