Fidelity MSCI Communication Services Index ETF (NYSEARCA:FCOM) Hits New 1-Year Low – Should You Sell?

Shares of Fidelity MSCI Communication Services Index ETF (NYSEARCA:FCOM) hit a new 52-week low during trading on Thursday. The stock traded as low as $64.99 and last traded at $65.7410, with a volume of 29,655 shares traded. The stock had previously closed at $66.98.

Fidelity MSCI Communication Services Index ETF Price Performance

The stock has a market cap of $1.51 billion, a price-to-earnings ratio of 19.08 and a beta of 1.04. The firm’s 50-day moving average is $71.30 and its 200 day moving average is $71.62.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. Harel Insurance Investments & Financial Services Ltd. increased its holdings in Fidelity MSCI Communication Services Index ETF by 5.2% in the 1st quarter. Harel Insurance Investments & Financial Services Ltd. now owns 3,145,739 shares of the company’s stock valued at $214,288,000 after purchasing an additional 155,067 shares in the last quarter. Independence Financial Advisors LLC raised its position in Fidelity MSCI Communication Services Index ETF by 4.1% in the third quarter. Independence Financial Advisors LLC now owns 193,054 shares of the company’s stock valued at $13,902,000 after purchasing an additional 7,616 shares during the period. Redstone Wealth Management LLC lifted its stake in shares of Fidelity MSCI Communication Services Index ETF by 3.8% during the third quarter. Redstone Wealth Management LLC now owns 173,114 shares of the company’s stock worth $12,466,000 after purchasing an additional 6,412 shares in the last quarter. Crumly & Associates Inc. lifted its stake in shares of Fidelity MSCI Communication Services Index ETF by 20.2% during the third quarter. Crumly & Associates Inc. now owns 169,314 shares of the company’s stock worth $12,192,000 after purchasing an additional 28,464 shares in the last quarter. Finally, Kestra Advisory Services LLC lifted its stake in shares of Fidelity MSCI Communication Services Index ETF by 2.0% during the first quarter. Kestra Advisory Services LLC now owns 166,444 shares of the company’s stock worth $11,338,000 after purchasing an additional 3,336 shares in the last quarter.

About Fidelity MSCI Communication Services Index ETF

The Fidelity MSCI Communication Services Index ETF (FCOM) is an exchange-traded fund that mostly invests in communication services equity. The fund tracks a market-cap-weighted index of stocks in the US communication services sector. FCOM was launched on Oct 21, 2013 and is managed by Fidelity.