Fidelity MSCI Information Technology Index ETF (NYSEARCA:FTEC) Reaches New 52-Week High – Still a Buy?

Shares of Fidelity MSCI Information Technology Index ETF (NYSEARCA:FTEC) reached a new 52-week high during mid-day trading on Tuesday. The stock traded as high as $309.08 and last traded at $308.44, with a volume of 265251 shares. The stock had previously closed at $306.30.

Fidelity MSCI Information Technology Index ETF Stock Performance

The company has a 50 day simple moving average of $290.01 and a 200 day simple moving average of $270.44. The company has a market capitalization of $22.71 billion, a PE ratio of 35.45 and a beta of 1.34.

Institutional Trading of Fidelity MSCI Information Technology Index ETF

Large investors have recently made changes to their positions in the company. Lido Advisors LLC lifted its holdings in Fidelity MSCI Information Technology Index ETF by 3.6% in the 1st quarter. Lido Advisors LLC now owns 2,175,818 shares of the company’s stock valued at $452,679,000 after purchasing an additional 75,631 shares in the last quarter. LPL Financial LLC grew its holdings in shares of Fidelity MSCI Information Technology Index ETF by 14.1% during the fourth quarter. LPL Financial LLC now owns 694,702 shares of the company’s stock worth $156,079,000 after buying an additional 85,840 shares in the last quarter. Kestra Advisory Services LLC grew its holdings in shares of 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 worth $38,168,000 after buying an additional 10,516 shares in the last quarter. Principal Securities Inc. raised its position in shares of Fidelity MSCI Information Technology Index ETF by 72.0% in the fourth quarter. Principal Securities Inc. now owns 149,048 shares of the company’s stock valued at $33,487,000 after buying an additional 62,396 shares during the last quarter. Finally, Morningstar Investment Management LLC raised its position 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 valued at $24,540,000 after buying an additional 22,808 shares during the last quarter.

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.