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

Fidelity MSCI Financials Index ETF (NYSEARCA:FNCL)’s share price hit a new 52-week high during mid-day trading on Monday . The company traded as high as $81.40 and last traded at $81.31, with a volume of 5435 shares trading hands. The stock had previously closed at $80.22.

Fidelity MSCI Financials Index ETF Stock Performance

The stock’s fifty day moving average price is $76.62 and its two-hundred day moving average price is $74.82. The company has a market cap of $2.37 billion, a P/E ratio of 17.73 and a beta of 0.90.

Institutional Investors Weigh In On Fidelity MSCI Financials Index ETF

Hedge funds and other institutional investors have recently bought and sold shares of the company. Royal Bank of Canada raised its position in Fidelity MSCI Financials Index ETF by 71.8% in the first quarter. Royal Bank of Canada now owns 30,610 shares of the company’s stock valued at $2,128,000 after purchasing an additional 12,791 shares during the last quarter. NewEdge Advisors LLC grew its holdings in shares of Fidelity MSCI Financials Index ETF by 113.4% during the first quarter. NewEdge Advisors LLC now owns 15,905 shares of the company’s stock worth $1,106,000 after purchasing an additional 8,451 shares during the last quarter. Jones Financial Companies Lllp increased its stake in shares of Fidelity MSCI Financials Index ETF by 19.1% in the first quarter. Jones Financial Companies Lllp now owns 7,020 shares of the company’s stock valued at $479,000 after buying an additional 1,128 shares during the period. Jane Street Group LLC bought a new position in Fidelity MSCI Financials Index ETF in the 1st quarter valued at approximately $2,344,000. Finally, Focus Partners Wealth bought a new position in Fidelity MSCI Financials Index ETF in the 1st quarter valued at approximately $200,000.

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.