Fidelity MSCI Information Technology Index ETF (NYSEARCA:FTEC) Hits New 1-Year High – Still a Buy?

Fidelity MSCI Information Technology Index ETF (NYSEARCA:FTEC)’s stock price reached a new 52-week high on Wednesday. The company traded as high as $302.17 and last traded at $301.8830, with a volume of 98171 shares changing hands. The stock had previously closed at $298.08.

Fidelity MSCI Information Technology Index ETF Trading Up 1.2%

The company has a market cap of $22.16 billion, a price-to-earnings ratio of 35.45 and a beta of 1.35. The firm’s 50-day moving average price is $285.49 and its 200 day moving average price is $266.60.

Institutional Trading of Fidelity MSCI Information Technology Index ETF

A number of hedge funds and other institutional investors have recently bought and sold shares of FTEC. Lido Advisors LLC increased its position in shares of Fidelity MSCI Information Technology Index ETF by 3.6% during the first quarter. Lido Advisors LLC now owns 2,175,818 shares of the company’s stock worth $452,679,000 after acquiring an additional 75,631 shares in the last quarter. LPL Financial LLC boosted its stake in Fidelity MSCI Information Technology Index ETF by 14.1% in the fourth quarter. LPL Financial LLC now owns 694,702 shares of the company’s stock valued at $156,079,000 after acquiring an additional 85,840 shares during the last quarter. Kestra Advisory Services LLC grew its holdings in Fidelity MSCI Information Technology Index ETF by 6.1% during the first quarter. Kestra Advisory Services LLC now owns 183,454 shares of the company’s stock valued at $38,168,000 after purchasing an additional 10,516 shares during the period. Principal Securities Inc. increased its holdings in Fidelity MSCI Information Technology Index ETF by 72.0% in the 4th quarter. Principal Securities Inc. now owns 149,048 shares of the company’s stock worth $33,487,000 after acquiring an additional 62,396 shares during the last quarter. Finally, Morningstar Investment Management LLC increased its stake in shares of Fidelity MSCI Information Technology Index ETF by 24.0% in the first quarter. Morningstar Investment Management LLC now owns 117,953 shares of the company’s stock worth $24,540,000 after purchasing an additional 22,808 shares in the last quarter.

Fidelity MSCI Information Technology Index ETF Company Profile

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.