Valmark Advisers Inc. Sells 155 Shares of Fidelity MSCI Information Technology Index ETF (NYSEARCA:FTEC)

Valmark Advisers Inc. lowered its holdings in Fidelity MSCI Information Technology Index ETF (NYSEARCA:FTEC) by 4.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,751 shares of the company’s stock after selling 155 shares during the period. Valmark Advisers Inc.’s holdings in Fidelity MSCI Information Technology Index ETF were worth $605,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of FTEC. Whittier Trust Co. of Nevada Inc. bought a new stake in shares of Fidelity MSCI Information Technology Index ETF in the fourth quarter valued at approximately $26,000. Wood Tarver Financial Group LLC bought a new stake in shares of Fidelity MSCI Information Technology Index ETF in the fourth quarter valued at approximately $29,000. Bellwether Advisors LLC bought a new stake in shares of Fidelity MSCI Information Technology Index ETF in the fourth quarter valued at approximately $40,000. Promus Capital LLC bought a new stake in shares of Fidelity MSCI Information Technology Index ETF in the fourth quarter valued at approximately $41,000. Finally, McIlrath & Eck LLC raised its position in shares of Fidelity MSCI Information Technology Index ETF by 131.0% in the fourth quarter. McIlrath & Eck LLC now owns 231 shares of the company’s stock valued at $43,000 after purchasing an additional 131 shares during the period.

Fidelity MSCI Information Technology Index ETF Trading Up 1.8%

Shares of NYSEARCA:FTEC opened at $191.96 on Wednesday. The company has a 50 day moving average of $175.57 and a 200 day moving average of $176.94. The stock has a market cap of $13.71 billion, a P/E ratio of 33.64 and a beta of 1.24. Fidelity MSCI Information Technology Index ETF has a 12 month low of $134.11 and a 12 month high of $193.06.

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.