Fidelity MSCI Communication Services Index ETF (NYSEARCA:FCOM) Sees Strong Trading Volume – Here’s Why

Shares of Fidelity MSCI Communication Services Index ETF (NYSEARCA:FCOM) saw strong trading volume on Thursday . Approximately 1,796,507 shares traded hands during trading, an increase of 1,001% from the previous session’s volume of 163,103 shares.The stock last traded at $71.3350 and had previously closed at $71.08.

Fidelity MSCI Communication Services Index ETF Stock Performance

The business has a 50 day simple moving average of $70.68 and a 200-day simple moving average of $71.41. The stock has a market capitalization of $1.83 billion, a P/E ratio of 19.08 and a beta of 1.05.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Simplex Trading LLC lifted its holdings in Fidelity MSCI Communication Services Index ETF by 80.9% in the 4th quarter. Simplex Trading LLC now owns 360 shares of the company’s stock valued at $26,000 after acquiring an additional 161 shares during the last quarter. Allied Private Wealth LLC acquired a new position in shares of Fidelity MSCI Communication Services Index ETF in the 2nd quarter worth approximately $30,000. Russell Investments Group Ltd. raised its holdings in shares of Fidelity MSCI Communication Services Index ETF by 170.9% in the 3rd quarter. Russell Investments Group Ltd. now owns 512 shares of the company’s stock worth $36,000 after purchasing an additional 323 shares in the last quarter. Larson Financial Group LLC acquired a new stake in Fidelity MSCI Communication Services Index ETF during the third quarter valued at approximately $41,000. Finally, Global Retirement Partners LLC lifted its stake in Fidelity MSCI Communication Services Index ETF by 286.7% during the fourth quarter. Global Retirement Partners LLC now owns 727 shares of the company’s stock valued at $53,000 after purchasing an additional 539 shares during the last quarter.

Fidelity MSCI Communication Services Index ETF Company Profile

The Fidelity MSCI Communication Services Index ETF (FCOM) is an exchange-traded fund that mostly invests in communication services equity. The fund tracks a market-cap-weighted index of stocks in the US communication services sector. FCOM was launched on Oct 21, 2013 and is managed by Fidelity.