King Wealth Management Group Reduces Stock Position in Fidelity MSCI Information Technology Index ETF (NYSEARCA:FTEC)

King Wealth Management Group decreased its position in Fidelity MSCI Information Technology Index ETF (NYSEARCA:FTEC) by 0.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 57,580 shares of the company’s stock after selling 278 shares during the quarter. Fidelity MSCI Information Technology Index ETF makes up 1.6% of King Wealth Management Group’s investment portfolio, making the stock its 19th largest position. King Wealth Management Group’s holdings in Fidelity MSCI Information Technology Index ETF were worth $10,645,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. SteelPeak Wealth LLC purchased a new stake in Fidelity MSCI Information Technology Index ETF in the 4th quarter worth approximately $53,085,000. Eaton Financial Holdings Company LLC purchased a new position in shares of Fidelity MSCI Information Technology Index ETF during the third quarter valued at about $12,347,000. Raymond James Financial Inc. purchased a new position in shares of Fidelity MSCI Information Technology Index ETF during the fourth quarter valued at about $12,377,000. Goldstone Financial Group LLC bought a new position in Fidelity MSCI Information Technology Index ETF in the fourth quarter worth about $7,664,000. Finally, Kestra Investment Management LLC lifted its holdings in Fidelity MSCI Information Technology Index ETF by 24.4% in the third quarter. Kestra Investment Management LLC now owns 168,770 shares of the company’s stock worth $29,450,000 after buying an additional 33,071 shares during the period.

Fidelity MSCI Information Technology Index ETF Stock Performance

FTEC stock opened at $162.30 on Friday. Fidelity MSCI Information Technology Index ETF has a fifty-two week low of $142.12 and a fifty-two week high of $193.06. The company has a market capitalization of $11.82 billion, a price-to-earnings ratio of 36.37 and a beta of 1.15. The business’s 50 day moving average price is $182.59 and its two-hundred day moving average price is $180.25.

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.