Fidelity MSCI Materials Index ETF (NYSEARCA:FMAT) Hits New 52-Week High – Here’s Why

Fidelity MSCI Materials Index ETF (NYSEARCA:FMAT) hit a new 52-week high on Tuesday . The stock traded as high as $59.90 and last traded at $59.01, with a volume of 73532 shares. The stock had previously closed at $59.21.

Fidelity MSCI Materials Index ETF Trading Down 0.3%

The firm has a 50 day moving average price of $53.82 and a 200-day moving average price of $52.48. The firm has a market cap of $513.39 million, a PE ratio of 23.26 and a beta of 1.07.

Institutional Investors Weigh In On Fidelity MSCI Materials Index ETF

Hedge funds and other institutional investors have recently modified their holdings of the company. Jones Financial Companies Lllp increased its holdings in Fidelity MSCI Materials Index ETF by 1,778.8% in the first quarter. Jones Financial Companies Lllp now owns 2,480 shares of the company’s stock valued at $124,000 after buying an additional 2,348 shares during the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of Fidelity MSCI Materials Index ETF by 1.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 50,589 shares of the company’s stock valued at $2,444,000 after acquiring an additional 589 shares during the last quarter. Vicus Capital acquired a new stake in shares of Fidelity MSCI Materials Index ETF during the 2nd quarter worth about $250,000. Ameritas Advisory Services LLC purchased a new stake in Fidelity MSCI Materials Index ETF during the second quarter worth approximately $36,000. Finally, Yoder Wealth Management Inc. lifted its stake in Fidelity MSCI Materials Index ETF by 4.9% during the second quarter. Yoder Wealth Management Inc. now owns 22,275 shares of the company’s stock worth $1,111,000 after purchasing an additional 1,042 shares during the last quarter.

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.