Fidelity MSCI Materials Index ETF (NYSEARCA:FMAT) Sees Strong Trading Volume – Still a Buy?

Shares of Fidelity MSCI Materials Index ETF (NYSEARCA:FMAT) saw an uptick in trading volume on Tuesday . 99,026 shares were traded during trading, an increase of 93% from the previous session’s volume of 51,261 shares.The stock last traded at $57.14 and had previously closed at $56.30.

Fidelity MSCI Materials Index ETF Stock Up 1.8%

The firm’s 50-day moving average price is $59.14 and its 200 day moving average price is $54.78. The firm has a market cap of $504.24 million, a P/E ratio of 23.26 and a beta of 1.07.

Hedge Funds Weigh In On Fidelity MSCI Materials Index ETF

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Caldwell Trust Co acquired a new stake in Fidelity MSCI Materials Index ETF in the 3rd quarter valued at approximately $26,000. Atlantic Union Bankshares Corp acquired a new stake in Fidelity MSCI Materials Index ETF in the third quarter worth about $27,000. Flagship Harbor Advisors LLC acquired a new stake in Fidelity MSCI Materials Index ETF in the fourth quarter worth about $35,000. Optima Capital LLC bought a new position in Fidelity MSCI Materials Index ETF in the 4th quarter valued at about $40,000. Finally, Northwestern Mutual Wealth Management Co. grew its position in Fidelity MSCI Materials Index ETF by 33.5% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,404 shares of the company’s stock valued at $70,000 after buying an additional 352 shares in 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.