Fidelity MSCI Real Estate Index ETF (NYSEARCA:FREL) Sets New 1-Year High – Still a Buy?

Fidelity MSCI Real Estate Index ETF (NYSEARCA:FREL)’s share price hit a new 52-week high on Tuesday . The stock traded as high as $29.60 and last traded at $29.58, with a volume of 24887 shares traded. The stock had previously closed at $29.36.

Fidelity MSCI Real Estate Index ETF Stock Performance

The business has a 50-day moving average of $28.39 and a 200-day moving average of $27.92. The stock has a market capitalization of $1.46 billion, a price-to-earnings ratio of 34.96 and a beta of 1.00.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the business. Bank of America Corp DE raised its holdings in Fidelity MSCI Real Estate Index ETF by 25,321.8% during the first quarter. Bank of America Corp DE now owns 10,268,643 shares of the company’s stock worth $276,329,000 after purchasing an additional 10,228,250 shares in the last quarter. Envestnet Asset Management Inc. boosted its stake in Fidelity MSCI Real Estate Index ETF by 81.6% in the third quarter. Envestnet Asset Management Inc. now owns 966,894 shares of the company’s stock valued at $26,889,000 after acquiring an additional 434,332 shares in the last quarter. AE Wealth Management LLC boosted its stake in Fidelity MSCI Real Estate Index ETF by 30.8% in the fourth quarter. AE Wealth Management LLC now owns 1,614,618 shares of the company’s stock valued at $43,417,000 after acquiring an additional 380,393 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its holdings in shares of Fidelity MSCI Real Estate Index ETF by 82.7% during the third quarter. Northwestern Mutual Wealth Management Co. now owns 761,510 shares of the company’s stock worth $21,178,000 after purchasing an additional 344,617 shares during the last quarter. Finally, Citizens & Northern Corp grew its holdings in shares of Fidelity MSCI Real Estate Index ETF by 32.2% during the fourth quarter. Citizens & Northern Corp now owns 1,087,071 shares of the company’s stock worth $29,231,000 after purchasing an additional 264,741 shares during the last quarter.

About Fidelity MSCI Real Estate Index ETF

The Fidelity MSCI Real Estate Index ETF (FREL) is an exchange-traded fund that is based on the MSCI US IMI\u002FReal Estate 25-25 index. The fund tracks a cap-weighted index of US REIT and real estate companies across the entire market-cap spectrum. FREL was launched on Feb 2, 2015 and is managed by Fidelity.