Fidelity MSCI Communication Services Index ETF (NYSEARCA:FCOM) Hits New 1-Year High – What’s Next?

Fidelity MSCI Communication Services Index ETF (NYSEARCA:FCOM)’s share price hit a new 52-week high on Wednesday . The company traded as high as $57.82 and last traded at $57.58, with a volume of 32628 shares changing hands. The stock had previously closed at $56.60.

Fidelity MSCI Communication Services Index ETF Stock Up 2.6 %

The company has a market cap of $1.25 billion, a PE ratio of 26.44 and a beta of 1.22. The company’s fifty day moving average is $54.37 and its 200-day moving average is $52.25.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. CX Institutional grew its position in shares of Fidelity MSCI Communication Services Index ETF by 23.8% during the 3rd quarter. CX Institutional now owns 16,648 shares of the company’s stock valued at $917,000 after acquiring an additional 3,202 shares during the period. Cetera Investment Advisers grew its holdings in Fidelity MSCI Communication Services Index ETF by 15.9% during the second quarter. Cetera Investment Advisers now owns 18,428 shares of the company’s stock valued at $962,000 after purchasing an additional 2,525 shares during the period. Sanctuary Advisors LLC purchased a new stake in Fidelity MSCI Communication Services Index ETF in the second quarter worth about $209,000. Lynch & Associates IN raised its stake in shares of Fidelity MSCI Communication Services Index ETF by 2.7% in the second quarter. Lynch & Associates IN now owns 23,552 shares of the company’s stock worth $1,230,000 after buying an additional 625 shares during the period. Finally, Axxcess Wealth Management LLC lifted its position in shares of Fidelity MSCI Communication Services Index ETF by 211.4% during the 2nd quarter. Axxcess Wealth Management LLC now owns 40,248 shares of the company’s stock valued at $2,102,000 after buying an additional 27,324 shares in the last quarter.

About Fidelity MSCI Communication Services Index ETF

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.