Fidelity MSCI Real Estate Index ETF (NYSEARCA:FREL) Sets New 12-Month High – Here’s Why

Fidelity MSCI Real Estate Index ETF (NYSEARCA:FREL)’s stock price reached a new 52-week high on Tuesday . The stock traded as high as $29.67 and last traded at $29.65, with a volume of 65376 shares trading hands. The stock had previously closed at $29.03.

Fidelity MSCI Real Estate Index ETF Price Performance

The stock has a market cap of $1.47 billion, a P/E ratio of 34.96 and a beta of 0.98. The stock has a 50-day simple moving average of $28.68 and a 200-day simple moving average of $28.01.

Hedge Funds Weigh In On Fidelity MSCI Real Estate Index ETF

Institutional investors have recently added to or reduced their stakes in the stock. Flagship Harbor Advisors LLC bought a new position in Fidelity MSCI Real Estate Index ETF in the 4th quarter valued at approximately $26,000. SHP Wealth Management bought a new stake in shares of Fidelity MSCI Real Estate Index ETF during the fourth quarter worth $27,000. Atlantic Union Bankshares Corp increased its holdings in shares of Fidelity MSCI Real Estate Index ETF by 81.7% during the third quarter. Atlantic Union Bankshares Corp now owns 1,817 shares of the company’s stock worth $51,000 after buying an additional 817 shares in the last quarter. Transamerica Financial Advisors LLC increased its holdings in shares of Fidelity MSCI Real Estate Index ETF by 147.6% during the fourth quarter. Transamerica Financial Advisors LLC now owns 1,835 shares of the company’s stock worth $49,000 after buying an additional 1,094 shares in the last quarter. Finally, Fifth Third Bancorp lifted its stake in shares of Fidelity MSCI Real Estate Index ETF by 180.3% in the 1st quarter. Fifth Third Bancorp now owns 1,881 shares of the company’s stock valued at $51,000 after acquiring an additional 1,210 shares during the last quarter.

About Fidelity MSCI Real Estate Index ETF

The Fidelity MSCI Real Estate Index ETF (FREL) is an exchange-traded fund that is based on the MSCI US IMI\u002FReal Estate 25-25 index. The fund tracks a cap-weighted index of US REIT and real estate companies across the entire market-cap spectrum. FREL was launched on Feb 2, 2015 and is managed by Fidelity.