Fidelity MSCI Information Technology Index ETF (NYSEARCA:FTEC) Sees Unusually-High Trading Volume – Here’s What Happened

Fidelity MSCI Information Technology Index ETF (NYSEARCA:FTEC) shares saw strong trading volume on Wednesday . 1,324,769 shares changed hands during trading, an increase of 320% from the previous session’s volume of 315,074 shares.The stock last traded at $231.74 and had previously closed at $229.61.

Fidelity MSCI Information Technology Index ETF Price Performance

The firm’s 50 day simple moving average is $225.37 and its 200-day simple moving average is $219.50. The company has a market cap of $17.20 billion, a price-to-earnings ratio of 35.45 and a beta of 1.24.

Institutional Trading of Fidelity MSCI Information Technology Index ETF

Several large investors have recently bought and sold shares of the company. Brighton Jones LLC increased its position in Fidelity MSCI Information Technology Index ETF by 8.8% during the 4th quarter. Brighton Jones LLC now owns 18,113 shares of the company’s stock worth $3,349,000 after purchasing an additional 1,458 shares in the last quarter. Goldman Sachs Group Inc. purchased a new position in shares of Fidelity MSCI Information Technology Index ETF during the 1st quarter worth $2,532,000. Jane Street Group LLC acquired a new stake in shares of Fidelity MSCI Information Technology Index ETF during the first quarter worth $3,833,000. Moody Lynn & Lieberson LLC purchased a new stake in shares of Fidelity MSCI Information Technology Index ETF in the second quarter valued at $203,000. Finally, Sound Income Strategies LLC grew its position in shares of Fidelity MSCI Information Technology Index ETF by 20.8% in the second quarter. Sound Income Strategies LLC now owns 319 shares of the company’s stock valued at $63,000 after purchasing an additional 55 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.