Fidelity MSCI Materials Index ETF (NYSEARCA:FMAT) Hits New 52-Week High – Here’s Why

Fidelity MSCI Materials Index ETF (NYSEARCA:FMAT)’s share price hit a new 52-week high during trading on Tuesday . The company traded as high as $59.90 and last traded at $59.01, with a volume of 73532 shares traded. The stock had previously closed at $59.21.

Fidelity MSCI Materials Index ETF Stock Down 0.3%

The company’s fifty day moving average price is $53.82 and its two-hundred day moving average price is $52.48. The firm has a market cap of $513.39 million, a PE ratio of 23.26 and a beta of 1.07.

Institutional Trading of Fidelity MSCI Materials Index ETF

Several hedge funds have recently modified their holdings of the business. Caldwell Trust Co acquired a new position in Fidelity MSCI Materials Index ETF during the third quarter worth $26,000. Atlantic Union Bankshares Corp purchased a new stake in shares of Fidelity MSCI Materials Index ETF during the 3rd quarter worth $27,000. Howe & Rusling Inc. purchased a new stake in shares of Fidelity MSCI Materials Index ETF during the 2nd quarter worth $35,000. Flagship Harbor Advisors LLC acquired a new position in shares of Fidelity MSCI Materials Index ETF during the 4th quarter worth $35,000. Finally, Ameritas Advisory Services LLC purchased a new position in shares of Fidelity MSCI Materials Index ETF in the 2nd quarter valued at about $36,000.

Fidelity MSCI Materials Index ETF Company Profile

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.