Fidelity MSCI Financials Index ETF (NYSEARCA:FNCL) Sets New 1-Year High – Should You Buy?

Fidelity MSCI Financials Index ETF (NYSEARCA:FNCL) shares reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $79.82 and last traded at $79.99, with a volume of 28887 shares. The stock had previously closed at $78.01.

Fidelity MSCI Financials Index ETF Price Performance

The stock has a market cap of $2.47 billion, a price-to-earnings ratio of 17.73 and a beta of 1.02. The firm’s 50-day moving average is $76.09 and its 200 day moving average is $75.47.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Janney Montgomery Scott LLC grew its position in shares of Fidelity MSCI Financials Index ETF by 2.6% during the 2nd quarter. Janney Montgomery Scott LLC now owns 6,432 shares of the company’s stock valued at $476,000 after buying an additional 161 shares during the last quarter. AE Wealth Management LLC boosted its stake in Fidelity MSCI Financials Index ETF by 6.5% in the second quarter. AE Wealth Management LLC now owns 92,730 shares of the company’s stock valued at $6,866,000 after acquiring an additional 5,660 shares during the period. Creative Planning grew its holdings in shares of Fidelity MSCI Financials Index ETF by 6.2% during the second quarter. Creative Planning now owns 13,595 shares of the company’s stock valued at $1,007,000 after purchasing an additional 790 shares during the last quarter. Brighton Jones LLC acquired a new stake in shares of Fidelity MSCI Financials Index ETF during the 3rd quarter worth approximately $1,377,000. Finally, Wealth Enhancement Advisory Services LLC raised its position in shares of Fidelity MSCI Financials Index ETF by 5.2% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 10,662 shares of the company’s stock worth $804,000 after purchasing an additional 530 shares during the period.

About Fidelity MSCI Financials Index ETF

The Fidelity MSCI Financials Index ETF (FNCL) is an exchange-traded fund that is based on the MSCI USA IMI Financials 25\u002F50 index, a market-cap-weighted index of US financial companies across the entire market-cap spectrum. FNCL was launched on Oct 21, 2013 and is managed by Fidelity.