Fidelity MSCI Communication Services Index ETF (NYSEARCA:FCOM) Sees Strong Trading Volume – Time to Buy?

Shares of Fidelity MSCI Communication Services Index ETF (NYSEARCA:FCOM) saw unusually-strong trading volume on Wednesday . Approximately 165,217 shares traded hands during mid-day trading, an increase of 20% from the previous session’s volume of 138,030 shares.The stock last traded at $69.3180 and had previously closed at $68.44.

Fidelity MSCI Communication Services Index ETF Trading Up 1.9%

The stock’s 50-day moving average price is $70.38 and its 200-day moving average price is $66.23. The company has a market capitalization of $1.78 billion, a P/E ratio of 19.08 and a beta of 1.06.

Hedge Funds Weigh In On Fidelity MSCI Communication Services Index ETF

Several institutional investors have recently modified their holdings of the company. Harbour Investments Inc. increased its position in Fidelity MSCI Communication Services Index ETF by 14.4% in the 2nd quarter. Harbour Investments Inc. now owns 1,595 shares of the company’s stock valued at $103,000 after acquiring an additional 201 shares during the period. New Millennium Group LLC grew its holdings in shares of Fidelity MSCI Communication Services Index ETF by 38.2% in the 2nd quarter. New Millennium Group LLC now owns 727 shares of the company’s stock worth $47,000 after acquiring an additional 201 shares during the last quarter. Court Place Advisors LLC increased its stake in Fidelity MSCI Communication Services Index ETF by 1.2% in the 2nd quarter. Court Place Advisors LLC now owns 16,805 shares of the company’s stock worth $1,089,000 after purchasing an additional 202 shares in the last quarter. Blair William & Co. IL raised its holdings in Fidelity MSCI Communication Services Index ETF by 100.0% during the 1st quarter. Blair William & Co. IL now owns 448 shares of the company’s stock worth $25,000 after buying an additional 224 shares during the period. Finally, Raymond James Financial Inc. lifted its stake in Fidelity MSCI Communication Services Index ETF by 0.6% during the second quarter. Raymond James Financial Inc. now owns 49,361 shares of the company’s stock valued at $3,199,000 after buying an additional 278 shares in 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.