Fidelity MSCI Materials Index ETF (NYSEARCA:FMAT) Reaches New 12-Month High – Time to Buy?

Fidelity MSCI Materials Index ETF (NYSEARCA:FMAT) hit a new 52-week high during trading on Monday . The stock traded as high as $60.59 and last traded at $60.5640, with a volume of 14596 shares trading hands. The stock had previously closed at $60.05.

Fidelity MSCI Materials Index ETF Trading Up 1.5%

The stock has a market cap of $536.18 million, a price-to-earnings ratio of 23.26 and a beta of 1.07. The company has a fifty day simple moving average of $55.38 and a 200-day simple moving average of $52.97.

Hedge Funds Weigh In On Fidelity MSCI Materials Index ETF

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Maxele Advisors LLC lifted its holdings in shares of Fidelity MSCI Materials Index ETF by 1.5% in the fourth quarter. Maxele Advisors LLC now owns 15,703 shares of the company’s stock valued at $834,000 after purchasing an additional 226 shares in the last quarter. Meridian Wealth Management LLC raised its stake in shares of Fidelity MSCI Materials Index ETF by 6.1% during the 4th quarter. Meridian Wealth Management LLC now owns 4,268 shares of the company’s stock worth $227,000 after purchasing an additional 246 shares in the last quarter. Centennial Wealth Advisory LLC lifted its stake in Fidelity MSCI Materials Index ETF by 6.1% in the fourth quarter. Centennial Wealth Advisory LLC now owns 5,324 shares of the company’s stock valued at $283,000 after acquiring an additional 305 shares during the last quarter. Sachetta LLC boosted its holdings in Fidelity MSCI Materials Index ETF by 16.5% in the third quarter. Sachetta LLC now owns 2,156 shares of the company’s stock worth $113,000 after purchasing an additional 306 shares in the last quarter. Finally, Vicus Capital increased its position in Fidelity MSCI Materials Index ETF by 5.3% during the fourth quarter. Vicus Capital now owns 6,189 shares of the company’s stock worth $329,000 after buying an additional 312 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.