Fidelity MSCI Financials Index ETF (NYSEARCA:FNCL) Hits New 1-Year High – Here’s Why

Fidelity MSCI Financials Index ETF (NYSEARCA:FNCL)’s share price reached a new 52-week high during trading on Thursday . The company traded as high as $83.15 and last traded at $83.11, with a volume of 67971 shares changing hands. The stock had previously closed at $82.46.

Fidelity MSCI Financials Index ETF Stock Performance

The firm has a market capitalization of $2.43 billion, a price-to-earnings ratio of 17.73 and a beta of 0.89. The company has a 50 day moving average price of $78.82 and a two-hundred day moving average price of $75.17.

Hedge Funds Weigh In On Fidelity MSCI Financials Index ETF

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. AE Wealth Management LLC increased its holdings in shares of Fidelity MSCI Financials Index ETF by 7.8% in the fourth quarter. AE Wealth Management LLC now owns 110,510 shares of the company’s stock valued at $8,591,000 after purchasing an additional 8,002 shares during the last quarter. Yoder Wealth Management Inc. boosted its holdings in Fidelity MSCI Financials Index ETF by 14.5% in the 1st quarter. Yoder Wealth Management Inc. now owns 93,649 shares of the company’s stock valued at $6,574,000 after purchasing an additional 11,835 shares during the last quarter. Robertson Stephens Wealth Management LLC grew its stake in shares of Fidelity MSCI Financials Index ETF by 55.8% in the 4th quarter. Robertson Stephens Wealth Management LLC now owns 38,378 shares of the company’s stock valued at $2,984,000 after buying an additional 13,738 shares during the period. Jacobs Equity LLC purchased a new stake in shares of Fidelity MSCI Financials Index ETF in the 4th quarter valued at approximately $1,601,000. Finally, Northwestern Mutual Wealth Management Co. grew its stake in shares of Fidelity MSCI Financials Index ETF by 4.8% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 219,088 shares of the company’s stock valued at $17,032,000 after buying an additional 10,040 shares during the period.

Fidelity MSCI Financials Index ETF Company Profile

The Fidelity MSCI Financials Index ETF (FNCL) is an exchange-traded fund that is based on the MSCI USA IMI Financials 25\u002F50 index, a market-cap-weighted index of US financial companies across the entire market-cap spectrum. FNCL was launched on Oct 21, 2013 and is managed by Fidelity.