Fidelity MSCI Information Technology Index ETF (NYSEARCA:FTEC) Stock Crosses Above Fifty Day Moving Average – Here’s What Happened

Shares of Fidelity MSCI Information Technology Index ETF (NYSEARCA:FTEC) crossed above its 50-day moving average during trading on Tuesday. The stock has a 50-day moving average of $292.03 and traded as high as $293.85. Fidelity MSCI Information Technology Index ETF shares last traded at $293.07, with a volume of 192,910 shares traded.

Fidelity MSCI Information Technology Index ETF Stock Performance

The company has a 50 day simple moving average of $292.03 and a 200 day simple moving average of $259.92. The company has a market capitalization of $21.78 billion, a PE ratio of 35.45 and a beta of 1.34.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. SteelPeak Wealth LLC boosted its stake in Fidelity MSCI Information Technology Index ETF by 2,389.5% during the 3rd quarter. SteelPeak Wealth LLC now owns 85,540 shares of the company’s stock worth $25,667,000 after purchasing an additional 82,104 shares during the last quarter. Lido Advisors LLC grew its holdings in shares of Fidelity MSCI Information Technology Index ETF by 3.6% during the first quarter. Lido Advisors LLC now owns 2,175,818 shares of the company’s stock worth $452,679,000 after buying an additional 75,631 shares in the last quarter. Go Invest LLC acquired a new stake in shares of Fidelity MSCI Information Technology Index ETF in the third quarter valued at about $9,806,000. Sigma Planning Corp acquired a new stake in shares of Fidelity MSCI Information Technology Index ETF in the third quarter valued at about $9,144,000. Finally, Marotta Asset Management raised its position in shares of Fidelity MSCI Information Technology Index ETF by 67.0% in the first quarter. Marotta Asset Management now owns 68,189 shares of the company’s stock valued at $14,368,000 after buying an additional 27,346 shares during the last quarter.

About Fidelity MSCI Information Technology Index ETF

The Fidelity MSCI Information Technology Index ETF (FTEC) is an exchange-traded fund that mostly invests in information technology equity. The fund tracks a market-cap-weighted index of stocks in the broad US information technology sector. FTEC was launched on Oct 21, 2013 and is managed by Fidelity.