Fidelity MSCI Financials Index ETF (NYSEARCA:FNCL) Sees Large Volume Increase – Here’s Why

Fidelity MSCI Financials Index ETF (NYSEARCA:FNCL) saw unusually-strong trading volume on Thursday . Approximately 1,117,548 shares were traded during mid-day trading, an increase of 701% from the previous session’s volume of 139,469 shares.The stock last traded at $73.97 and had previously closed at $74.58.

Fidelity MSCI Financials Index ETF Stock Down 0.8%

The company has a 50-day moving average price of $72.12 and a two-hundred day moving average price of $74.74. The company has a market capitalization of $2.29 billion, a PE ratio of 17.73 and a beta of 0.95.

Institutional Trading of Fidelity MSCI Financials Index ETF

Several institutional investors and hedge funds have recently bought and sold shares of FNCL. Lido Advisors LLC boosted its holdings in Fidelity MSCI Financials Index ETF by 7.8% in the 3rd quarter. Lido Advisors LLC now owns 2,704,058 shares of the company’s stock valued at $206,428,000 after purchasing an additional 196,045 shares during the period. Charles Schwab Investment Management Inc. raised its position in shares of Fidelity MSCI Financials Index ETF by 2.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,882,009 shares of the company’s stock worth $146,307,000 after buying an additional 51,401 shares in the last quarter. AGF Management Ltd. boosted its stake in Fidelity MSCI Financials Index ETF by 47.4% during the third quarter. AGF Management Ltd. now owns 853,891 shares of the company’s stock valued at $65,186,000 after buying an additional 274,708 shares during the period. Commonwealth Equity Services LLC grew its position in Fidelity MSCI Financials Index ETF by 5.7% during the fourth quarter. Commonwealth Equity Services LLC now owns 474,222 shares of the company’s stock worth $36,866,000 after buying an additional 25,627 shares in the last quarter. Finally, LPL Financial LLC raised its holdings in shares of Fidelity MSCI Financials Index ETF by 19.2% in the 4th quarter. LPL Financial LLC now owns 347,864 shares of the company’s stock valued at $27,043,000 after acquiring an additional 56,045 shares in the last quarter.

About Fidelity MSCI Financials Index ETF

The Fidelity MSCI Financials Index ETF (FNCL) is an exchange-traded fund that is based on the MSCI USA IMI Financials 25\u002F50 index, a market-cap-weighted index of US financial companies across the entire market-cap spectrum. FNCL was launched on Oct 21, 2013 and is managed by Fidelity.