Fidelity MSCI Communication Services Index ETF (NYSEARCA:FCOM) Hits New 12-Month High – Here’s What Happened

Fidelity MSCI Communication Services Index ETF (NYSEARCA:FCOM)’s share price reached a new 52-week high during trading on Tuesday . The stock traded as high as $62.19 and last traded at $62.20, with a volume of 23708 shares changing hands. The stock had previously closed at $61.69.

Fidelity MSCI Communication Services Index ETF Price Performance

The company has a market capitalization of $1.35 billion, a PE ratio of 26.44 and a beta of 1.22. The firm has a 50-day moving average of $59.92 and a 200 day moving average of $55.94.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Q3 Asset Management purchased a new position in shares of Fidelity MSCI Communication Services Index ETF during the 4th quarter valued at about $11,358,000. Destiny Wealth Partners LLC purchased a new position in shares of Fidelity MSCI Communication Services Index ETF during the 4th quarter valued at about $10,501,000. Beckerman Institutional LLC purchased a new position in shares of Fidelity MSCI Communication Services Index ETF during the 3rd quarter valued at about $1,279,000. Meridian Wealth Management LLC purchased a new position in shares of Fidelity MSCI Communication Services Index ETF during the 3rd quarter valued at about $808,000. Finally, VCI Wealth Management LLC lifted its position in shares of Fidelity MSCI Communication Services Index ETF by 109.7% during the 4th quarter. VCI Wealth Management LLC now owns 23,031 shares of the company’s stock valued at $1,352,000 after buying an additional 12,050 shares in the last quarter.

Fidelity MSCI Communication Services Index ETF Company Profile

The Fidelity MSCI Communication Services Index ETF (FCOM) is an exchange-traded fund that mostly invests in communication services equity. The fund tracks a market-cap-weighted index of stocks in the US communication services sector. FCOM was launched on Oct 21, 2013 and is managed by Fidelity.