Fidelity MSCI Information Technology Index ETF (NYSEARCA:FTEC) Reaches New 12-Month High – Should You Buy?

Shares of Fidelity MSCI Information Technology Index ETF (NYSEARCA:FTEC) hit a new 52-week high during mid-day trading on Monday . The company traded as high as $186.53 and last traded at $186.49, with a volume of 22392 shares changing hands. The stock had previously closed at $184.90.

Fidelity MSCI Information Technology Index ETF Trading Up 0.3 %

The business’s fifty day simple moving average is $178.14 and its 200 day simple moving average is $171.07. The stock has a market cap of $11.56 billion, a price-to-earnings ratio of 37.14 and a beta of 1.41.

Hedge Funds Weigh In On Fidelity MSCI Information Technology Index ETF

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in FTEC. Aptus Capital Advisors LLC raised its holdings in shares of Fidelity MSCI Information Technology Index ETF by 67.3% during the third quarter. Aptus Capital Advisors LLC now owns 169 shares of the company’s stock worth $29,000 after acquiring an additional 68 shares during the period. EverSource Wealth Advisors LLC bought a new position in shares of Fidelity MSCI Information Technology Index ETF during the 2nd quarter worth approximately $32,000. Lynx Investment Advisory bought a new position in shares of Fidelity MSCI Information Technology Index ETF in the second quarter valued at about $37,000. Voisard Asset Management Group Inc. bought a new position in Fidelity MSCI Information Technology Index ETF in the 3rd quarter valued at about $89,000. Finally, McClarren Financial Advisors Inc. lifted its holdings in Fidelity MSCI Information Technology Index ETF by 851.9% during the 2nd quarter. McClarren Financial Advisors Inc. now owns 514 shares of the company’s stock worth $88,000 after purchasing an additional 460 shares during the last quarter.

About Fidelity MSCI Information Technology Index ETF

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.