Fidelity MSCI Materials Index ETF (NYSEARCA:FMAT) Stock Price Down 0.3% – Should You Sell?

Fidelity MSCI Materials Index ETF (NYSEARCA:FMAT) fell 0.3% during trading on Monday . The company traded as low as $57.84 and last traded at $57.94. 29,549 shares changed hands during mid-day trading, a decline of 49% from the average session volume of 57,636 shares. The stock had previously closed at $58.10.

Fidelity MSCI Materials Index ETF Price Performance

The business has a 50 day moving average of $58.55 and a 200 day moving average of $56.59. The firm has a market capitalization of $587.62 million, a price-to-earnings ratio of 23.26 and a beta of 0.97.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Maxele Advisors LLC raised its position in shares of Fidelity MSCI Materials Index ETF by 1.5% during the fourth quarter. Maxele Advisors LLC now owns 15,703 shares of the company’s stock worth $834,000 after purchasing an additional 226 shares during the period. Smith Salley Wealth Management raised its position in Fidelity MSCI Materials Index ETF by 1.7% in the 1st quarter. Smith Salley Wealth Management now owns 13,748 shares of the company’s stock valued at $792,000 after buying an additional 228 shares during the last quarter. Meridian Wealth Management LLC raised its position in Fidelity MSCI Materials Index ETF by 6.1% in the 4th quarter. Meridian Wealth Management LLC now owns 4,268 shares of the company’s stock valued at $227,000 after buying an additional 246 shares during the last quarter. Centennial Wealth Advisory LLC raised its position in Fidelity MSCI Materials Index ETF by 6.1% in the 4th quarter. Centennial Wealth Advisory LLC now owns 5,324 shares of the company’s stock valued at $283,000 after buying an additional 305 shares during the last quarter. Finally, Vicus Capital raised its position in Fidelity MSCI Materials Index ETF by 5.3% in the 4th quarter. Vicus Capital now owns 6,189 shares of the company’s stock valued at $329,000 after buying an additional 312 shares during the last quarter.

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.