Fidelity MSCI Information Technology Index ETF (NYSEARCA:FTEC) Shares Cross Below 200-Day Moving Average – Here’s Why

Fidelity MSCI Information Technology Index ETF (NYSEARCA:FTEC)’s stock price passed below its 200-day moving average during trading on Thursday. The stock has a 200-day moving average of $261.71 and traded as low as $255.01. Fidelity MSCI Information Technology Index ETF shares last traded at $255.15, with a volume of 1,707,031 shares changing hands.

Fidelity MSCI Information Technology Index ETF Price Performance

The business has a 50-day moving average of $291.41 and a 200-day moving average of $261.71. The company has a market capitalization of $18.98 billion, a P/E ratio of 35.45 and a beta of 1.36.

Institutional Investors Weigh In On Fidelity MSCI Information Technology Index ETF

Several institutional investors have recently made changes to their positions in the company. Lido Advisors LLC bought a new position in Fidelity MSCI Information Technology Index ETF during the 3rd quarter valued at about $643,786,000. Commonwealth Equity Services LLC purchased a new stake in Fidelity MSCI Information Technology Index ETF in the 3rd quarter worth about $164,961,000. International Assets Investment Management LLC raised its position in Fidelity MSCI Information Technology Index ETF by 24,943.7% in the 3rd quarter. International Assets Investment Management LLC now owns 430,000 shares of the company’s stock worth $129,026,000 after purchasing an additional 428,283 shares during the period. Kestra Investment Management LLC lifted its stake in Fidelity MSCI Information Technology Index ETF by 5.1% in the third quarter. Kestra Investment Management LLC now owns 339,699 shares of the company’s stock worth $101,930,000 after purchasing an additional 16,636 shares during the last quarter. Finally, Kestra Advisory Services LLC lifted its stake in Fidelity MSCI Information Technology Index ETF by 50.3% in the third quarter. Kestra Advisory Services LLC now owns 270,806 shares of the company’s stock worth $81,258,000 after purchasing an additional 90,617 shares during the last quarter.

Fidelity MSCI Information Technology Index ETF Company Profile

The Fidelity MSCI Information Technology Index ETF (FTEC) is an exchange-traded fund that mostly invests in information technology equity. The fund tracks a market-cap-weighted index of stocks in the broad US information technology sector. FTEC was launched on Oct 21, 2013 and is managed by Fidelity.