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

Fidelity MSCI Information Technology Index ETF (NYSEARCA:FTEC)’s share price hit a new 52-week high during mid-day trading on Monday . The company traded as high as $186.53 and last traded at $186.49, with a volume of 22392 shares. The stock had previously closed at $184.90.

Fidelity MSCI Information Technology Index ETF Trading Up 0.3 %

The firm has a market cap of $11.56 billion, a price-to-earnings ratio of 37.14 and a beta of 1.41. The company’s 50-day moving average is $178.14 and its 200-day moving average is $171.07.

Hedge Funds Weigh In On Fidelity MSCI Information Technology Index ETF

Several large investors have recently bought and sold shares of FTEC. Aptus Capital Advisors LLC increased its stake in shares of Fidelity MSCI Information Technology Index ETF by 67.3% in the third quarter. Aptus Capital Advisors LLC now owns 169 shares of the company’s stock valued at $29,000 after buying an additional 68 shares during the period. EverSource Wealth Advisors LLC bought a new stake in shares of Fidelity MSCI Information Technology Index ETF during the 2nd quarter valued at about $32,000. Lynx Investment Advisory acquired a new position in Fidelity MSCI Information Technology Index ETF in the second quarter valued at approximately $37,000. Strategic Financial Concepts LLC acquired a new stake in Fidelity MSCI Information Technology Index ETF in the second quarter worth $43,000. Finally, McClarren Financial Advisors Inc. increased its stake in Fidelity MSCI Information Technology Index ETF by 851.9% in the second quarter. McClarren Financial Advisors Inc. now owns 514 shares of the company’s stock valued at $88,000 after purchasing an additional 460 shares in the last quarter.

About Fidelity MSCI Information Technology Index ETF

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.