Fidelity MSCI Information Technology Index ETF (NYSEARCA:FTEC) Sets New 12-Month High – Still a Buy?

Fidelity MSCI Information Technology Index ETF (NYSEARCA:FTEC) reached a new 52-week high on Tuesday . The stock traded as high as $300.86 and last traded at $300.6690, with a volume of 197300 shares trading hands. The stock had previously closed at $299.40.

Fidelity MSCI Information Technology Index ETF Stock Up 0.5%

The firm has a market capitalization of $22.12 billion, a price-to-earnings ratio of 35.45 and a beta of 1.35. The business has a 50-day moving average of $282.49 and a two-hundred day moving average of $263.14.

Institutional Trading of Fidelity MSCI Information Technology Index ETF

Institutional investors have recently modified their holdings of the company. Lido Advisors LLC raised its stake in shares of Fidelity MSCI Information Technology Index ETF by 3.6% in the first quarter. Lido Advisors LLC now owns 2,175,818 shares of the company’s stock valued at $452,679,000 after purchasing an additional 75,631 shares in the last quarter. LPL Financial LLC lifted its position in Fidelity MSCI Information Technology Index ETF by 14.1% in the fourth quarter. LPL Financial LLC now owns 694,702 shares of the company’s stock worth $156,079,000 after purchasing an additional 85,840 shares during the period. Northwestern Mutual Wealth Management Co. boosted its stake in Fidelity MSCI Information Technology Index ETF by 2.5% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 313,356 shares of the company’s stock worth $70,402,000 after buying an additional 7,672 shares in the last quarter. Kestra Investment Management LLC boosted its stake in Fidelity MSCI Information Technology Index ETF by 5.9% during the fourth quarter. Kestra Investment Management LLC now owns 278,876 shares of the company’s stock worth $62,655,000 after buying an additional 15,626 shares in the last quarter. Finally, Kestra Advisory Services LLC boosted its stake in Fidelity MSCI Information Technology Index ETF by 6.1% during the first quarter. Kestra Advisory Services LLC now owns 183,454 shares of the company’s stock worth $38,168,000 after buying an additional 10,516 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.