Fidelity MSCI Communication Services Index ETF (NYSEARCA:FCOM) Sees Unusually-High Trading Volume – Here’s Why

Fidelity MSCI Communication Services Index ETF (NYSEARCA:FCOM) shares saw unusually-high trading volume on Thursday . Approximately 2,062,170 shares changed hands during mid-day trading, an increase of 881% from the previous session’s volume of 210,256 shares.The stock last traded at $75.3450 and had previously closed at $73.74.

Fidelity MSCI Communication Services Index ETF Stock Down 0.5%

The stock’s fifty day moving average price is $73.00 and its 200-day moving average price is $70.28. The company has a market capitalization of $1.98 billion, a price-to-earnings ratio of 19.08 and a beta of 1.06.

Institutional Investors Weigh In On Fidelity MSCI Communication Services Index ETF

Institutional investors and hedge funds have recently made changes to their positions in the stock. Commonwealth Equity Services LLC raised its stake in Fidelity MSCI Communication Services Index ETF by 11.3% in the 3rd quarter. Commonwealth Equity Services LLC now owns 295,874 shares of the company’s stock valued at $20,998,000 after acquiring an additional 30,095 shares during the period. Janney Montgomery Scott LLC increased its position in Fidelity MSCI Communication Services Index ETF by 16.0% during the second quarter. Janney Montgomery Scott LLC now owns 67,249 shares of the company’s stock worth $4,358,000 after acquiring an additional 9,255 shares during the period. AGF Management Ltd. raised its position in shares of Fidelity MSCI Communication Services Index ETF by 10.6% in the second quarter. AGF Management Ltd. now owns 632,275 shares of the company’s stock valued at $40,978,000 after buying an additional 60,681 shares in the last quarter. VCI Wealth Management LLC lifted its position in shares of Fidelity MSCI Communication Services Index ETF by 7.4% during the 2nd quarter. VCI Wealth Management LLC now owns 21,409 shares of the company’s stock valued at $1,388,000 after acquiring an additional 1,475 shares during the period. Finally, Court Place Advisors LLC lifted its position in Fidelity MSCI Communication Services Index ETF by 1.2% during the second 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 during the period.

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.