Fidelity MSCI Materials Index ETF (NYSEARCA:FMAT) Stock Price Crosses Below 200 Day Moving Average – Should You Sell?

Shares of Fidelity MSCI Materials Index ETF (NYSEARCA:FMAT) passed below its 200-day moving average during trading on Thursday. The stock has a 200-day moving average of $58.86 and traded as low as $58.47. Fidelity MSCI Materials Index ETF shares last traded at $58.51, with a volume of 59,663 shares changing hands.

Fidelity MSCI Materials Index ETF Stock Down 1.7%

The company has a market cap of $599.73 million, a PE ratio of 22.70 and a beta of 0.97. The company has a 50-day moving average of $57.77 and a 200-day moving average of $58.86.

Hedge Funds Weigh In On Fidelity MSCI Materials Index ETF

Large investors have recently bought and sold shares of the stock. Jacobs Equity LLC grew its position in Fidelity MSCI Materials Index ETF by 17.4% in the 3rd quarter. Jacobs Equity LLC now owns 9,896 shares of the company’s stock worth $552,000 after purchasing an additional 1,465 shares in the last quarter. Maxele Advisors LLC increased its stake in Fidelity MSCI Materials Index ETF by 1.1% in the 3rd quarter. Maxele Advisors LLC now owns 18,247 shares of the company’s stock valued at $1,017,000 after buying an additional 192 shares during the last quarter. OneAscent Financial Services LLC lifted its position in shares of Fidelity MSCI Materials Index ETF by 16.8% during the 3rd quarter. OneAscent Financial Services LLC now owns 20,567 shares of the company’s stock worth $1,146,000 after buying an additional 2,951 shares in the last quarter. HighTower Advisors LLC bought a new position in shares of Fidelity MSCI Materials Index ETF during the 3rd quarter worth approximately $252,000. Finally, Harbour Investments Inc. bought a new position in shares of Fidelity MSCI Materials Index ETF during the 3rd quarter worth approximately $349,000.

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.