Fidelity MSCI Information Technology Index ETF (NYSEARCA:FTEC) Sets New 1-Year High – Still a Buy?

Fidelity MSCI Information Technology Index ETF (NYSEARCA:FTEC) hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $228.25 and last traded at $226.98, with a volume of 322406 shares trading hands. The stock had previously closed at $224.99.

Fidelity MSCI Information Technology Index ETF Price Performance

The company has a market cap of $16.50 billion, a price-to-earnings ratio of 35.45 and a beta of 1.16. The business’s fifty day moving average price is $211.76 and its 200 day moving average price is $189.91.

Institutional Investors Weigh In On Fidelity MSCI Information Technology Index ETF

Several institutional investors and hedge funds have recently made changes to their positions in FTEC. IMA Advisory Services Inc. bought a new stake in shares of Fidelity MSCI Information Technology Index ETF in the 1st quarter valued at $25,000. AlphaCore Capital LLC acquired a new position in Fidelity MSCI Information Technology Index ETF in the second quarter valued at $26,000. Heartwood Wealth Advisors LLC bought a new stake in Fidelity MSCI Information Technology Index ETF during the third quarter valued at $32,000. NBC Securities Inc. acquired a new stake in Fidelity MSCI Information Technology Index ETF during the 1st quarter worth about $46,000. Finally, Howe & Rusling Inc. acquired a new stake in Fidelity MSCI Information Technology Index ETF during the 2nd quarter worth about $47,000.

Fidelity MSCI Information Technology Index ETF Company Profile

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.