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

Fidelity MSCI Information Technology Index ETF (NYSEARCA:FTEC) reached a new 52-week high during trading on Thursday . The company traded as high as $245.87 and last traded at $245.86, with a volume of 386959 shares trading hands. The stock had previously closed at $240.98.

Fidelity MSCI Information Technology Index ETF Trading Up 2.0%

The stock has a market capitalization of $17.82 billion, a P/E ratio of 35.45 and a beta of 1.26. The stock’s 50 day simple moving average is $219.00 and its 200 day simple moving average is $223.53.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. Apollon Wealth Management LLC boosted its stake in Fidelity MSCI Information Technology Index ETF by 20.9% during the 1st quarter. Apollon Wealth Management LLC now owns 1,254 shares of the company’s stock valued at $261,000 after acquiring an additional 217 shares during the last quarter. Patriot Financial Group Insurance Agency LLC bought a new position in Fidelity MSCI Information Technology Index ETF during the 1st quarter valued at $267,000. Yoder Wealth Management Inc. boosted its stake in Fidelity MSCI Information Technology Index ETF by 13.2% during the 1st quarter. Yoder Wealth Management Inc. now owns 98,083 shares of the company’s stock valued at $20,406,000 after acquiring an additional 11,440 shares during the last quarter. VCI Wealth Management LLC boosted its stake in Fidelity MSCI Information Technology Index ETF by 11.2% during the 1st quarter. VCI Wealth Management LLC now owns 3,440 shares of the company’s stock valued at $716,000 after acquiring an additional 346 shares during the last quarter. Finally, Silver Oak Securities Incorporated boosted its stake in Fidelity MSCI Information Technology Index ETF by 19.9% during the 1st quarter. Silver Oak Securities Incorporated now owns 5,865 shares of the company’s stock valued at $1,220,000 after acquiring an additional 975 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.