Fidelity MSCI Materials Index ETF (NYSEARCA:FMAT) Reaches New 12-Month High – Here’s Why

Fidelity MSCI Materials Index ETF (NYSEARCA:FMAT) reached a new 52-week high during trading on Monday . The stock traded as high as $60.59 and last traded at $60.5640, with a volume of 14596 shares changing hands. The stock had previously closed at $60.05.

Fidelity MSCI Materials Index ETF Stock Performance

The firm has a fifty day moving average of $55.38 and a 200 day moving average of $52.97. The firm has a market capitalization of $536.18 million, a PE ratio of 23.26 and a beta of 1.07.

Institutional Investors Weigh In On Fidelity MSCI Materials Index ETF

A number of large investors have recently added to or reduced their stakes in FMAT. Caldwell Trust Co acquired a new position in Fidelity MSCI Materials Index ETF in the 3rd quarter worth $26,000. Atlantic Union Bankshares Corp purchased a new stake in shares of Fidelity MSCI Materials Index ETF during the third quarter worth about $27,000. Flagship Harbor Advisors LLC acquired a new position in shares of Fidelity MSCI Materials Index ETF in the fourth quarter worth about $35,000. Howe & Rusling Inc. purchased a new position in Fidelity MSCI Materials Index ETF in the second quarter valued at about $35,000. Finally, Ameritas Advisory Services LLC acquired a new stake in Fidelity MSCI Materials Index ETF during the 2nd quarter valued at approximately $36,000.

About Fidelity MSCI Materials Index ETF

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.