Fidelity MSCI Financials Index ETF (NYSEARCA:FNCL) Hits New 52-Week High – Should You Buy?

Fidelity MSCI Financials Index ETF (NYSEARCA:FNCL)’s stock price reached a new 52-week high on Monday . The stock traded as high as $79.82 and last traded at $79.99, with a volume of 28887 shares. The stock had previously closed at $78.01.

Fidelity MSCI Financials Index ETF Stock Performance

The stock has a market capitalization of $2.50 billion, a price-to-earnings ratio of 17.73 and a beta of 1.02. The business has a fifty day simple moving average of $75.90 and a 200 day simple moving average of $75.34.

Hedge Funds Weigh In On Fidelity MSCI Financials Index ETF

Hedge funds have recently bought and sold shares of the company. Sava Penzisko Drushtvo A.D. Skopje bought a new position in Fidelity MSCI Financials Index ETF in the third quarter valued at approximately $26,099,000. AGF Management Ltd. boosted its holdings in shares of Fidelity MSCI Financials Index ETF by 47.4% in the 3rd quarter. AGF Management Ltd. now owns 853,891 shares of the company’s stock valued at $65,186,000 after purchasing an additional 274,708 shares in the last quarter. Mercer Global Advisors Inc. ADV raised its position in shares of Fidelity MSCI Financials Index ETF by 3,442.3% during the third quarter. Mercer Global Advisors Inc. ADV now owns 274,140 shares of the company’s stock worth $20,928,000 after acquiring an additional 266,401 shares during the last quarter. Lido Advisors LLC lifted its stake in shares of Fidelity MSCI Financials Index ETF by 7.8% in the third quarter. Lido Advisors LLC now owns 2,704,058 shares of the company’s stock worth $206,428,000 after acquiring an additional 196,045 shares during the period. Finally, Northwestern Mutual Wealth Management Co. boosted its holdings in Fidelity MSCI Financials Index ETF by 122.6% in the third quarter. Northwestern Mutual Wealth Management Co. now owns 209,048 shares of the company’s stock valued at $15,959,000 after acquiring an additional 115,117 shares during the last quarter.

About Fidelity MSCI Financials Index ETF

The Fidelity MSCI Financials Index ETF (FNCL) is an exchange-traded fund that is based on the MSCI USA IMI Financials 25\u002F50 index, a market-cap-weighted index of US financial companies across the entire market-cap spectrum. FNCL was launched on Oct 21, 2013 and is managed by Fidelity.