Fidelity MSCI Information Technology Index ETF (NYSEARCA:FTEC) Hits New 1-Year High – Should You Buy?

Fidelity MSCI Information Technology Index ETF (NYSEARCA:FTEC)’s share price reached a new 52-week high on Thursday . The stock traded as high as $261.61 and last traded at $261.50, with a volume of 383734 shares trading hands. The stock had previously closed at $254.87.

Fidelity MSCI Information Technology Index ETF Trading Up 2.6%

The firm has a market cap of $19.01 billion, a price-to-earnings ratio of 35.45 and a beta of 1.31. The stock’s fifty day moving average price is $223.91 and its 200-day moving average price is $224.90.

Institutional Investors Weigh In On Fidelity MSCI Information Technology Index ETF

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Walkner Condon Financial Advisors LLC raised its position in Fidelity MSCI Information Technology Index ETF by 5.1% in the first quarter. Walkner Condon Financial Advisors LLC now owns 969 shares of the company’s stock valued at $202,000 after purchasing an additional 47 shares during the period. Founders Financial Alliance LLC grew its holdings in shares of Fidelity MSCI Information Technology Index ETF by 2.0% during the 4th quarter. Founders Financial Alliance LLC now owns 2,487 shares of the company’s stock worth $559,000 after purchasing an additional 49 shares during the period. Smithfield Trust Co increased its position in shares of Fidelity MSCI Information Technology Index ETF by 2.1% during the 4th quarter. Smithfield Trust Co now owns 2,425 shares of the company’s stock worth $544,000 after purchasing an additional 50 shares during the last quarter. Instrumental Wealth LLC increased its position in shares of Fidelity MSCI Information Technology Index ETF by 1.8% during the 3rd quarter. Instrumental Wealth LLC now owns 2,928 shares of the company’s stock worth $691,000 after purchasing an additional 52 shares during the last quarter. Finally, Global Retirement Partners LLC raised its holdings in Fidelity MSCI Information Technology Index ETF by 2.9% in the 3rd quarter. Global Retirement Partners LLC now owns 1,892 shares of the company’s stock valued at $420,000 after buying an additional 54 shares during the period.

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.