Fidelity MSCI Materials Index ETF (NYSEARCA:FMAT) Reaches New 1-Year High – Should You Buy?

Fidelity MSCI Materials Index ETF (NYSEARCA:FMAT)’s share price hit a new 52-week high on Tuesday . The stock traded as high as $59.91 and last traded at $59.7490, with a volume of 11857 shares. The stock had previously closed at $58.13.

Fidelity MSCI Materials Index ETF Trading Down 2.8%

The firm has a market capitalization of $516.82 million, a P/E ratio of 23.26 and a beta of 1.07. The company has a 50-day moving average of $55.22 and a 200-day moving average of $52.90.

Institutional Trading of Fidelity MSCI Materials Index ETF

Institutional investors have recently added to or reduced their stakes in the stock. Northwestern Mutual Wealth Management Co. raised its holdings in Fidelity MSCI Materials Index ETF by 23,517.9% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 334,902 shares of the company’s stock worth $17,787,000 after purchasing an additional 333,484 shares during the last quarter. Maxele Advisors LLC boosted its stake in shares of Fidelity MSCI Materials Index ETF by 1.5% in the 4th quarter. Maxele Advisors LLC now owns 15,703 shares of the company’s stock valued at $834,000 after purchasing an additional 226 shares during the last quarter. Meridian Wealth Management LLC increased its position in shares of Fidelity MSCI Materials Index ETF by 6.1% during the fourth quarter. Meridian Wealth Management LLC now owns 4,268 shares of the company’s stock worth $227,000 after buying an additional 246 shares during the period. Wealth Alliance Advisory Group LLC acquired a new stake in shares of Fidelity MSCI Materials Index ETF during the fourth quarter worth $1,393,000. Finally, Trail Ridge Investment Advisors LLC raised its stake in Fidelity MSCI Materials Index ETF by 6.9% during the fourth quarter. Trail Ridge Investment Advisors LLC now owns 20,801 shares of the company’s stock worth $1,105,000 after buying an additional 1,351 shares during the last quarter.

Fidelity MSCI Materials Index ETF Company Profile

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.