Fidelity MSCI Communication Services Index ETF (NYSEARCA:FCOM) Reaches New 52-Week High – Time to Buy?

Shares of Fidelity MSCI Communication Services Index ETF (NYSEARCA:FCOM) hit a new 52-week high during mid-day trading on Friday . The company traded as high as $64.00 and last traded at $63.85, with a volume of 9740 shares. The stock had previously closed at $63.80.

Fidelity MSCI Communication Services Index ETF Stock Up 0.5 %

The stock has a fifty day simple moving average of $60.92 and a 200 day simple moving average of $56.93. The firm has a market capitalization of $1.38 billion, a P/E ratio of 26.44 and a beta of 1.22.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. raised its position in shares of Fidelity MSCI Communication Services Index ETF by 2.1% during the fourth quarter. JPMorgan Chase & Co. now owns 7,950 shares of the company’s stock valued at $467,000 after buying an additional 162 shares during the last quarter. Sanctuary Advisors LLC grew its stake in Fidelity MSCI Communication Services Index ETF by 4.3% during the fourth quarter. Sanctuary Advisors LLC now owns 4,537 shares of the company’s stock valued at $285,000 after acquiring an additional 189 shares in the last quarter. Sigma Planning Corp increased its holdings in Fidelity MSCI Communication Services Index ETF by 1.3% in the 4th quarter. Sigma Planning Corp now owns 14,918 shares of the company’s stock valued at $876,000 after acquiring an additional 194 shares during the last quarter. GSA Capital Partners LLP lifted its stake in Fidelity MSCI Communication Services Index ETF by 4.0% in the 3rd quarter. GSA Capital Partners LLP now owns 5,314 shares of the company’s stock worth $293,000 after purchasing an additional 203 shares in the last quarter. Finally, Private Advisor Group LLC boosted its holdings in shares of Fidelity MSCI Communication Services Index ETF by 6.4% during the 4th quarter. Private Advisor Group LLC now owns 4,482 shares of the company’s stock valued at $263,000 after purchasing an additional 271 shares during the last quarter.

About Fidelity MSCI Communication Services Index ETF

The Fidelity MSCI Communication Services Index ETF (FCOM) is an exchange-traded fund that mostly invests in communication services equity. The fund tracks a market-cap-weighted index of stocks in the US communication services sector. FCOM was launched on Oct 21, 2013 and is managed by Fidelity.