Fidelity MSCI Materials Index ETF (NYSEARCA:FMAT) Sees Strong Trading Volume – Here’s What Happened

Shares of Fidelity MSCI Materials Index ETF (NYSEARCA:FMAT) saw strong trading volume on Tuesday . Approximately 222,800 shares traded hands during mid-day trading, an increase of 304% from the previous session’s volume of 55,145 shares.The stock last traded at $59.16 and had previously closed at $59.66.

Fidelity MSCI Materials Index ETF Price Performance

The stock has a market cap of $599.56 million, a P/E ratio of 23.26 and a beta of 0.96. The business’s 50-day simple moving average is $59.41 and its two-hundred day simple moving average is $58.14.

Hedge Funds Weigh In On Fidelity MSCI Materials Index ETF

Institutional investors have recently added to or reduced their stakes in the business. NewEdge Advisors LLC lifted its position in Fidelity MSCI Materials Index ETF by 108.1% in the 1st quarter. NewEdge Advisors LLC now owns 11,602 shares of the company’s stock worth $669,000 after buying an additional 6,028 shares during the last quarter. Centaurus Financial Inc. purchased a new position in Fidelity MSCI Materials Index ETF in the 1st quarter worth approximately $156,000. Lido Advisors LLC increased its stake in shares of Fidelity MSCI Materials Index ETF by 4.9% in the first quarter. Lido Advisors LLC now owns 654,663 shares of the company’s stock worth $37,735,000 after buying an additional 30,472 shares during the period. Cetera Investment Advisers increased its position in shares of Fidelity MSCI Materials Index ETF by 614.1% in the first quarter. Cetera Investment Advisers now owns 100,986 shares of the company’s stock valued at $5,821,000 after acquiring an additional 86,844 shares during the period. Finally, Modera Wealth Management LLC bought a new stake in Fidelity MSCI Materials Index ETF in the first quarter valued at $213,000.

Fidelity MSCI Materials Index ETF Company Profile

The Fidelity MSCI Materials Index ETF (FMAT) is an exchange-traded fund that is based on the MSCI USA IMI Materials 25\u002F50 index, a market-cap-weighted index of stocks in the US basic materials sector across the entire market-cap spectrum. FMAT was launched on Oct 21, 2013 and is managed by Fidelity.