Fidelity MSCI Materials Index ETF (NYSEARCA:FMAT) Hits New 12-Month High – Should You Buy?

Fidelity MSCI Materials Index ETF (NYSEARCA:FMAT) shares reached a new 52-week high on Wednesday . The company traded as high as $62.84 and last traded at $61.7920, with a volume of 7294 shares traded. The stock had previously closed at $62.34.

Fidelity MSCI Materials Index ETF Stock Performance

The business has a 50 day simple moving average of $58.05 and a 200-day simple moving average of $53.99. The firm has a market cap of $543.97 million, a price-to-earnings ratio of 23.26 and a beta of 1.07.

Institutional Investors Weigh In On Fidelity MSCI Materials Index ETF

Institutional investors have recently bought and sold shares of the stock. AGF Management Ltd. lifted its holdings in Fidelity MSCI Materials Index ETF by 91.5% during the second quarter. AGF Management Ltd. now owns 159,257 shares of the company’s stock worth $7,942,000 after acquiring an additional 76,078 shares during the period. AE Wealth Management LLC grew its stake in Fidelity MSCI Materials Index ETF by 0.6% in the 2nd quarter. AE Wealth Management LLC now owns 915,330 shares of the company’s stock valued at $45,648,000 after purchasing an additional 5,781 shares during the period. Beaumont Financial Advisors LLC purchased a new stake in shares of Fidelity MSCI Materials Index ETF during the 3rd quarter valued at $1,454,000. Steward Partners Investment Advisory LLC raised its stake in shares of Fidelity MSCI Materials Index ETF by 23,823.4% during the 2nd quarter. Steward Partners Investment Advisory LLC now owns 55,263 shares of the company’s stock worth $2,756,000 after purchasing an additional 55,032 shares during the period. Finally, GWN Securities Inc. bought a new stake in shares of Fidelity MSCI Materials Index ETF during the 2nd quarter worth $237,000.

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.