Fidelity MSCI Materials Index ETF (NYSEARCA:FMAT) Shares Up 1.3% – Still a Buy?

Fidelity MSCI Materials Index ETF (NYSEARCA:FMAT)’s share price was up 1.3% on Monday . The company traded as high as $53.86 and last traded at $53.77. Approximately 49,350 shares traded hands during mid-day trading, an increase of 6% from the average daily volume of 46,552 shares. The stock had previously closed at $53.07.

Fidelity MSCI Materials Index ETF Trading Up 0.1%

The stock has a 50-day moving average price of $51.33 and a 200 day moving average price of $51.52. The stock has a market capitalization of $441.90 million, a price-to-earnings ratio of 23.26 and a beta of 1.07.

Institutional Trading of Fidelity MSCI Materials Index ETF

Institutional investors and hedge funds have recently made changes to their positions in the business. Caldwell Trust Co purchased a new stake in Fidelity MSCI Materials Index ETF in the 3rd quarter worth $26,000. Atlantic Union Bankshares Corp purchased a new position in Fidelity MSCI Materials Index ETF during the third quarter valued at $27,000. Howe & Rusling Inc. acquired a new stake in shares of Fidelity MSCI Materials Index ETF in the second quarter valued at about $35,000. Ameritas Advisory Services LLC purchased a new stake in shares of Fidelity MSCI Materials Index ETF during the second quarter worth about $36,000. Finally, Northwestern Mutual Wealth Management Co. raised its position in shares of Fidelity MSCI Materials Index ETF by 33.5% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,404 shares of the company’s stock worth $70,000 after purchasing an additional 352 shares during the last quarter.

About Fidelity MSCI Materials Index ETF

The Fidelity MSCI Materials Index ETF (FMAT) is an exchange-traded fund that is based on the MSCI USA IMI Materials 25\u002F50 index, a market-cap-weighted index of stocks in the US basic materials sector across the entire market-cap spectrum. FMAT was launched on Oct 21, 2013 and is managed by Fidelity.