Fidelity MSCI Materials Index ETF (NYSEARCA:FMAT) Sees Strong Trading Volume – Here’s Why

Fidelity MSCI Materials Index ETF (NYSEARCA:FMAT) shares saw unusually-strong trading volume on Tuesday . Approximately 99,026 shares changed hands during trading, an increase of 93% from the previous session’s volume of 51,261 shares.The stock last traded at $57.14 and had previously closed at $56.30.

Fidelity MSCI Materials Index ETF Trading Up 1.8%

The stock has a fifty day moving average of $59.14 and a 200-day moving average of $54.78. The firm has a market capitalization of $504.24 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 bought and sold shares of the stock. Maxele Advisors LLC raised its holdings in Fidelity MSCI Materials Index ETF by 1.5% in the 4th quarter. Maxele Advisors LLC now owns 15,703 shares of the company’s stock worth $834,000 after acquiring an additional 226 shares during the period. Meridian Wealth Management LLC grew its position in shares of Fidelity MSCI Materials Index ETF by 6.1% in the fourth quarter. Meridian Wealth Management LLC now owns 4,268 shares of the company’s stock valued at $227,000 after purchasing an additional 246 shares during the last quarter. Centennial Wealth Advisory LLC grew its position in shares of 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 purchasing an additional 305 shares during the last quarter. Sachetta LLC increased its stake in shares of 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 during the period. Finally, Vicus Capital lifted its position in shares of Fidelity MSCI Materials Index ETF by 5.3% during the 4th quarter. Vicus Capital now owns 6,189 shares of the company’s stock worth $329,000 after purchasing 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.