Fidelity MSCI Information Technology Index ETF (NYSEARCA:FTEC) Hits New 1-Year High – What’s Next?

Fidelity MSCI Information Technology Index ETF (NYSEARCA:FTEC)’s share price reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $228.25 and last traded at $226.98, with a volume of 322406 shares traded. The stock had previously closed at $224.99.

Fidelity MSCI Information Technology Index ETF Stock Performance

The firm’s 50 day moving average price is $211.76 and its two-hundred day moving average price is $189.91. The company has a market cap of $16.50 billion, a P/E ratio of 35.45 and a beta of 1.16.

Institutional Investors Weigh In On Fidelity MSCI Information Technology Index ETF

Several hedge funds and other institutional investors have recently modified their holdings of FTEC. Nova Wealth Management Inc. lifted its stake in shares of Fidelity MSCI Information Technology Index ETF by 12.2% in the third quarter. Nova Wealth Management Inc. now owns 9,639 shares of the company’s stock valued at $2,141,000 after buying an additional 1,051 shares in the last quarter. Wiser Wealth Management Inc raised its holdings in shares of Fidelity MSCI Information Technology Index ETF by 135.3% in the 3rd quarter. Wiser Wealth Management Inc now owns 5,095 shares of the company’s stock worth $1,132,000 after acquiring an additional 2,930 shares during the last quarter. Heartwood Wealth Advisors LLC acquired a new position in Fidelity MSCI Information Technology Index ETF during the 3rd quarter valued at about $32,000. Investors Research Corp boosted its stake in Fidelity MSCI Information Technology Index ETF by 4.9% during the 3rd quarter. Investors Research Corp now owns 7,350 shares of the company’s stock valued at $1,633,000 after purchasing an additional 344 shares during the last quarter. Finally, Caldwell Trust Co bought a new stake in Fidelity MSCI Information Technology Index ETF during the 2nd quarter worth approximately $68,000.

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.