Fidelity MSCI Financials Index ETF (NYSEARCA:FNCL) Sees Strong Trading Volume – Here’s What Happened

Fidelity MSCI Financials Index ETF (NYSEARCA:FNCL) saw unusually-high trading volume on Wednesday. 673,562 shares were traded during trading, an increase of 419% from the previous session’s volume of 129,662 shares. The stock last traded at $75.8870 and had previously closed at $76.58.

Fidelity MSCI Financials Index ETF Trading Down 0.9%

The company has a market capitalization of $2.23 billion, a P/E ratio of 17.73 and a beta of 0.89. The company’s fifty day moving average is $81.10 and its 200 day moving average is $76.70.

Hedge Funds Weigh In On Fidelity MSCI Financials Index ETF

A number of large investors have recently made changes to their positions in FNCL. Envestnet Asset Management Inc. raised its stake in shares of Fidelity MSCI Financials Index ETF by 154.9% during the 2nd quarter. Envestnet Asset Management Inc. now owns 30,298 shares of the company’s stock valued at $2,320,000 after purchasing an additional 18,414 shares during the period. Integrated Wealth Concepts LLC purchased a new position in Fidelity MSCI Financials Index ETF during the 2nd quarter valued at about $246,000. Corient Private Wealth LP grew its holdings in Fidelity MSCI Financials Index ETF by 8.4% during the 2nd quarter. Corient Private Wealth LP now owns 6,531 shares of the company’s stock valued at $500,000 after buying an additional 508 shares in the last quarter. Ameritas Advisory Services LLC increased its position in shares of Fidelity MSCI Financials Index ETF by 12.9% during the second quarter. Ameritas Advisory Services LLC now owns 29,201 shares of the company’s stock valued at $2,236,000 after buying an additional 3,332 shares during the period. Finally, Noble Wealth Partners LLC bought a new stake in shares of Fidelity MSCI Financials Index ETF during the second quarter valued at about $526,000.

About Fidelity MSCI Financials Index ETF

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.