Fidelity MSCI Materials Index ETF (NYSEARCA:FMAT) Trading Up 1.4% – Should You Buy?

Fidelity MSCI Materials Index ETF (NYSEARCA:FMAT) shares were up 1.4% during mid-day trading on Wednesday . The company traded as high as $58.01 and last traded at $57.79. 37,681 shares changed hands during mid-day trading, a decline of 37% from the average session volume of 59,793 shares. The stock had previously closed at $56.99.

Fidelity MSCI Materials Index ETF Stock Down 0.7%

The company has a 50 day moving average of $58.62 and a two-hundred day moving average of $58.89. The firm has a market cap of $579.34 million, a P/E ratio of 23.26 and a beta of 0.97.

Institutional Trading of Fidelity MSCI Materials Index ETF

A number of institutional investors have recently added to or reduced their stakes in the business. Wealth Alliance Advisory Group LLC acquired a new position in shares of Fidelity MSCI Materials Index ETF during the fourth quarter valued at about $1,393,000. Northwestern Mutual Wealth Management Co. boosted its stake in Fidelity MSCI Materials Index ETF by 23,517.9% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 334,902 shares of the company’s stock valued at $17,787,000 after buying an additional 333,484 shares in the last quarter. Mach 1 Financial Group LLC acquired a new stake in shares of Fidelity MSCI Materials Index ETF in the 4th quarter valued at $1,609,000. Kovitz Investment Group Partners LLC grew its stake in Fidelity MSCI Materials Index ETF by 83.4% during the fourth quarter. Kovitz Investment Group Partners LLC now owns 96,473 shares of the company’s stock worth $5,124,000 after buying an additional 43,872 shares during the last quarter. Finally, AE Wealth Management LLC grew its position in Fidelity MSCI Materials Index ETF by 25.8% during the 4th quarter. AE Wealth Management LLC now owns 1,328,708 shares of the company’s stock worth $70,568,000 after acquiring an additional 272,726 shares during the last quarter.

About Fidelity MSCI Materials Index ETF

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.