Fidelity MSCI Information Technology Index ETF (NYSEARCA:FTEC) Reaches New 52-Week High – Here’s Why

Fidelity MSCI Information Technology Index ETF (NYSEARCA:FTEC) hit a new 52-week high on Friday . The company traded as high as $276.36 and last traded at $276.36, with a volume of 20749 shares changing hands. The stock had previously closed at $273.47.

Fidelity MSCI Information Technology Index ETF Stock Performance

The company has a market capitalization of $20.12 billion, a price-to-earnings ratio of 35.45 and a beta of 1.31. The stock’s fifty day simple moving average is $235.12 and its two-hundred day simple moving average is $227.87.

Institutional Investors Weigh In On Fidelity MSCI Information Technology Index ETF

Institutional investors and hedge funds have recently bought and sold shares of the business. Financial Life Planners acquired a new stake in Fidelity MSCI Information Technology Index ETF in the 3rd quarter valued at about $25,000. Bessemer Group Inc. acquired a new stake in Fidelity MSCI Information Technology Index ETF in the 3rd quarter valued at about $26,000. Wealth Watch Advisors INC acquired a new stake in Fidelity MSCI Information Technology Index ETF in the 3rd quarter valued at about $30,000. Strategic Advocates LLC acquired a new stake in Fidelity MSCI Information Technology Index ETF in the 3rd quarter valued at about $31,000. Finally, Elyxium Wealth LLC acquired a new stake in Fidelity MSCI Information Technology Index ETF in the 4th quarter valued at about $37,000.

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.