Fidelity MSCI Communication Services Index ETF (NYSEARCA:FCOM) Sees Large Volume Increase – Time to Buy?

Fidelity MSCI Communication Services Index ETF (NYSEARCA:FCOM) saw an uptick in trading volume on Tuesday. Approximately 2,084,022 shares traded hands during trading, an increase of 1,030% from the previous session’s volume of 184,500 shares. The stock last traded at $71.2620 and had previously closed at $71.29.

Fidelity MSCI Communication Services Index ETF Trading Down 0.0%

The company’s 50 day moving average price is $71.75 and its two-hundred day moving average price is $71.79. The stock has a market cap of $1.76 billion, a P/E ratio of 19.08 and a beta of 1.04.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of FCOM. Harel Insurance Investments & Financial Services Ltd. lifted its position in shares of Fidelity MSCI Communication Services Index ETF by 5.2% during the 1st quarter. Harel Insurance Investments & Financial Services Ltd. now owns 3,145,739 shares of the company’s stock valued at $214,288,000 after buying an additional 155,067 shares in the last quarter. Independence Financial Advisors LLC increased its holdings in Fidelity MSCI Communication Services Index ETF by 4.1% in the 3rd quarter. Independence Financial Advisors LLC now owns 193,054 shares of the company’s stock worth $13,902,000 after acquiring an additional 7,616 shares in the last quarter. Crumly & Associates Inc. raised its stake in Fidelity MSCI Communication Services Index ETF by 20.2% during the 3rd quarter. Crumly & Associates Inc. now owns 169,314 shares of the company’s stock worth $12,192,000 after acquiring an additional 28,464 shares during the period. Kestra Advisory Services LLC raised its stake in Fidelity MSCI Communication Services Index ETF by 2.0% during the 1st quarter. Kestra Advisory Services LLC now owns 166,444 shares of the company’s stock worth $11,338,000 after acquiring an additional 3,336 shares during the period. Finally, Fischer Financial Services Inc. raised its stake in Fidelity MSCI Communication Services Index ETF by 1.3% during the 1st quarter. Fischer Financial Services Inc. now owns 106,332 shares of the company’s stock worth $7,243,000 after acquiring an additional 1,358 shares during the period.

Fidelity MSCI Communication Services Index ETF Company Profile

The Fidelity MSCI Communication Services Index ETF (FCOM) is an exchange-traded fund that mostly invests in communication services equity. The fund tracks a market-cap-weighted index of stocks in the US communication services sector. FCOM was launched on Oct 21, 2013 and is managed by Fidelity.