Fidelity MSCI Communication Services Index ETF (NYSEARCA:FCOM) Sees Large Volume Increase – What’s Next?

Shares of Fidelity MSCI Communication Services Index ETF (NYSEARCA:FCOM) saw strong trading volume on Wednesday . 165,217 shares were traded during mid-day trading, an increase of 20% from the previous session’s volume of 138,030 shares.The stock last traded at $69.3180 and had previously closed at $68.44.

Fidelity MSCI Communication Services Index ETF Stock Performance

The business has a 50-day simple moving average of $70.49 and a 200 day simple moving average of $66.21. The firm has a market cap of $1.78 billion, a P/E ratio of 19.08 and a beta of 1.06.

Hedge Funds Weigh In On Fidelity MSCI Communication Services Index ETF

Institutional investors and hedge funds have recently made changes to their positions in the business. Blair William & Co. IL raised its position in Fidelity MSCI Communication Services Index ETF by 100.0% in the first quarter. Blair William & Co. IL now owns 448 shares of the company’s stock worth $25,000 after acquiring an additional 224 shares during the period. Atlantic Union Bankshares Corp purchased a new position in Fidelity MSCI Communication Services Index ETF during the second quarter valued at $26,000. Private Trust Co. NA lifted its position in Fidelity MSCI Communication Services Index ETF by 1,737.5% during the third quarter. Private Trust Co. NA now owns 441 shares of the company’s stock valued at $31,000 after purchasing an additional 417 shares in the last quarter. Russell Investments Group Ltd. grew its holdings in Fidelity MSCI Communication Services Index ETF by 170.9% during the third quarter. Russell Investments Group Ltd. now owns 512 shares of the company’s stock valued at $36,000 after purchasing an additional 323 shares during the period. Finally, Signature Resources Capital Management LLC purchased a new stake in Fidelity MSCI Communication Services Index ETF in the second quarter worth about $40,000.

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.