Fidelity MSCI Information Technology Index ETF (NYSEARCA:FTEC) Hits New 52-Week Low – Time to Sell?

Fidelity MSCI Information Technology Index ETF (NYSEARCA:FTEC) shares hit a new 52-week low during mid-day trading on Friday . The company traded as low as $141.66 and last traded at $145.29, with a volume of 381429 shares traded. The stock had previously closed at $152.12.

Fidelity MSCI Information Technology Index ETF Stock Performance

The company has a 50-day moving average of $175.32 and a 200 day moving average of $180.07. The firm has a market cap of $10.06 billion, a P/E ratio of 32.28 and a beta of 1.23.

Institutional Trading of Fidelity MSCI Information Technology Index ETF

Hedge funds have recently modified their holdings of the company. Jones Financial Companies Lllp raised its holdings in shares of Fidelity MSCI Information Technology Index ETF by 40.7% in the fourth quarter. Jones Financial Companies Lllp now owns 4,969 shares of the company’s stock valued at $919,000 after buying an additional 1,437 shares during the last quarter. Apollon Wealth Management LLC bought a new position in shares of Fidelity MSCI Information Technology Index ETF in the fourth quarter worth about $219,000. JPMorgan Chase & Co. lifted its position in shares of Fidelity MSCI Information Technology Index ETF by 5.4% during the third quarter. JPMorgan Chase & Co. now owns 128,648 shares of the company’s stock worth $22,449,000 after purchasing an additional 6,629 shares in the last quarter. Silver Oak Securities Incorporated grew its stake in shares of Fidelity MSCI Information Technology Index ETF by 5.2% during the fourth quarter. Silver Oak Securities Incorporated now owns 4,365 shares of the company’s stock valued at $815,000 after purchasing an additional 216 shares during the last quarter. Finally, FMR LLC increased its holdings in shares of Fidelity MSCI Information Technology Index ETF by 3.7% in the third quarter. FMR LLC now owns 159,393 shares of the company’s stock valued at $27,814,000 after purchasing an additional 5,739 shares in the last quarter.

Fidelity MSCI Information Technology Index ETF Company Profile

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.