Exchange Capital Management Inc. Cuts Holdings in Fidelity MSCI Information Technology Index ETF (NYSEARCA:FTEC)

Exchange Capital Management Inc. lessened its holdings in Fidelity MSCI Information Technology Index ETF (NYSEARCA:FTEC) by 8.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 37,775 shares of the company’s stock after selling 3,416 shares during the period. Fidelity MSCI Information Technology Index ETF accounts for approximately 1.1% of Exchange Capital Management Inc.’s portfolio, making the stock its 24th largest holding. Exchange Capital Management Inc. owned approximately 0.06% of Fidelity MSCI Information Technology Index ETF worth $6,984,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the company. SteelPeak Wealth LLC purchased a new position in Fidelity MSCI Information Technology Index ETF in the 4th quarter valued at about $53,085,000. Eaton Financial Holdings Company LLC acquired a new stake in shares of Fidelity MSCI Information Technology Index ETF in the third quarter valued at $12,347,000. Goldstone Financial Group LLC bought a new position in shares of Fidelity MSCI Information Technology Index ETF during the 4th quarter valued at about $7,664,000. Kestra Investment Management LLC raised its holdings in Fidelity MSCI Information Technology Index ETF by 24.4% during the 3rd quarter. Kestra Investment Management LLC now owns 168,770 shares of the company’s stock worth $29,450,000 after buying an additional 33,071 shares during the period. Finally, Sanctuary Advisors LLC lifted its stake in Fidelity MSCI Information Technology Index ETF by 578.0% in the 3rd quarter. Sanctuary Advisors LLC now owns 34,708 shares of the company’s stock worth $6,418,000 after acquiring an additional 29,589 shares in the last quarter.

Fidelity MSCI Information Technology Index ETF Trading Down 1.5 %

FTEC opened at $182.94 on Tuesday. The stock has a market cap of $11.40 billion, a price-to-earnings ratio of 37.14 and a beta of 1.41. The stock has a fifty day moving average price of $186.94 and a 200 day moving average price of $180.12. Fidelity MSCI Information Technology Index ETF has a 1 year low of $142.12 and a 1 year high of $193.06.

Fidelity MSCI Information Technology Index ETF Company Profile

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.