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

Fidelity MSCI Materials Index ETF (NYSEARCA:FMAT) shares saw strong trading volume on Wednesday. 254,529 shares were traded during mid-day trading, an increase of 361% from the previous session’s volume of 55,196 shares. The stock last traded at $56.1860 and had previously closed at $56.20.

Fidelity MSCI Materials Index ETF Price Performance

The firm has a 50 day simple moving average of $58.99 and a 200-day simple moving average of $58.78. The company has a market cap of $566.71 million, a price-to-earnings ratio of 23.26 and a beta of 0.97.

Institutional Trading of Fidelity MSCI Materials Index ETF

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Kovitz Investment Group Partners LLC boosted its stake in Fidelity MSCI Materials Index ETF by 83.4% during the fourth quarter. Kovitz Investment Group Partners LLC now owns 96,473 shares of the company’s stock worth $5,124,000 after buying an additional 43,872 shares during the period. Bank of New York Mellon Corp acquired a new position in shares of Fidelity MSCI Materials Index ETF in the 1st quarter worth approximately $2,866,000. Lido Advisors LLC boosted its position in shares of Fidelity MSCI Materials Index ETF by 4.9% during the 1st quarter. Lido Advisors LLC now owns 654,663 shares of the company’s stock worth $37,735,000 after purchasing an additional 30,472 shares during the period. Kestra Private Wealth Services LLC acquired a new stake in Fidelity MSCI Materials Index ETF in the 1st quarter valued at approximately $1,068,000. Finally, Cetera Investment Advisers raised its position in Fidelity MSCI Materials Index ETF by 614.1% in the first quarter. Cetera Investment Advisers now owns 100,986 shares of the company’s stock valued at $5,821,000 after purchasing an additional 86,844 shares during the period.

About Fidelity MSCI Materials Index ETF

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.