Fidelity MSCI Real Estate Index ETF (NYSEARCA:FREL) Sees Large Volume Increase – Should You Buy?

Fidelity MSCI Real Estate Index ETF (NYSEARCA:FREL) shares saw unusually-strong trading volume on Tuesday. Approximately 1,478,307 shares traded hands during trading, an increase of 339% from the previous session’s volume of 336,690 shares. The stock last traded at $27.3840 and had previously closed at $27.48.

Fidelity MSCI Real Estate Index ETF Stock Performance

The stock has a market cap of $1.36 billion, a P/E ratio of 34.96 and a beta of 0.97. The firm has a 50 day moving average of $29.26 and a two-hundred day moving average of $29.01.

Institutional Investors Weigh In On Fidelity MSCI Real Estate Index ETF

Several hedge funds have recently modified their holdings of FREL. Bank of America Corp DE increased its position in Fidelity MSCI Real Estate Index ETF by 25,321.8% during the first quarter. Bank of America Corp DE now owns 10,268,643 shares of the company’s stock worth $276,329,000 after acquiring an additional 10,228,250 shares during the period. Riverpoint Wealth Management Holdings LLC boosted its holdings in Fidelity MSCI Real Estate Index ETF by 5.7% in the 1st quarter. Riverpoint Wealth Management Holdings LLC now owns 555,858 shares of the company’s stock valued at $14,958,000 after purchasing an additional 30,075 shares during the period. Diversify Wealth Management LLC grew its position in Fidelity MSCI Real Estate Index ETF by 49.4% in the 1st quarter. Diversify Wealth Management LLC now owns 329,694 shares of the company’s stock worth $9,492,000 after purchasing an additional 109,052 shares during the last quarter. Marotta Asset Management grew its position in Fidelity MSCI Real Estate Index ETF by 16.1% in the 1st quarter. Marotta Asset Management now owns 252,566 shares of the company’s stock worth $6,819,000 after purchasing an additional 35,105 shares during the last quarter. Finally, Dynamic Advisor Solutions LLC increased its holdings in shares of Fidelity MSCI Real Estate Index ETF by 4.6% during the 2nd quarter. Dynamic Advisor Solutions LLC now owns 218,481 shares of the company’s stock worth $6,402,000 after purchasing an additional 9,659 shares during the period.

About Fidelity MSCI Real Estate Index ETF

The Fidelity MSCI Real Estate Index ETF (FREL) is an exchange-traded fund that is based on the MSCI US IMI\u002FReal Estate 25-25 index. The fund tracks a cap-weighted index of US REIT and real estate companies across the entire market-cap spectrum. FREL was launched on Feb 2, 2015 and is managed by Fidelity.