Fidelity MSCI Materials Index ETF (NYSEARCA:FMAT) Sees Strong Trading Volume – Still a Buy?

Fidelity MSCI Materials Index ETF (NYSEARCA:FMAT) shares saw an uptick in trading volume on Tuesday . 66,967 shares traded hands during mid-day trading, an increase of 19% from the previous session’s volume of 56,493 shares.The stock last traded at $58.62 and had previously closed at $58.27.

Fidelity MSCI Materials Index ETF Stock Up 0.7%

The business’s 50-day simple moving average is $59.35 and its two-hundred day simple moving average is $58.30. The firm has a market capitalization of $598.43 million, a price-to-earnings ratio of 23.26 and a beta of 0.96.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the company. AE Wealth Management LLC grew its stake in shares of Fidelity MSCI Materials Index ETF by 25.8% in the fourth quarter. AE Wealth Management LLC now owns 1,328,708 shares of the company’s stock valued at $70,568,000 after buying an additional 272,726 shares in the last quarter. Lido Advisors LLC lifted its stake in Fidelity MSCI Materials Index ETF by 4.9% during the 1st quarter. Lido Advisors LLC now owns 654,663 shares of the company’s stock worth $37,735,000 after acquiring an additional 30,472 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its holdings in Fidelity MSCI Materials Index ETF by 23,517.9% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 334,902 shares of the company’s stock valued at $17,787,000 after acquiring an additional 333,484 shares during the period. Cetera Investment Advisers boosted its holdings in Fidelity MSCI Materials Index ETF by 614.1% during the 1st quarter. Cetera Investment Advisers now owns 100,986 shares of the company’s stock valued at $5,821,000 after acquiring an additional 86,844 shares during the period. Finally, Kovitz Investment Group Partners LLC boosted its holdings in Fidelity MSCI Materials Index ETF by 83.4% during the 4th quarter. Kovitz Investment Group Partners LLC now owns 96,473 shares of the company’s stock valued at $5,124,000 after acquiring an additional 43,872 shares during the period.

Fidelity MSCI Materials Index ETF Company Profile

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.