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

Fidelity MSCI Materials Index ETF (NYSEARCA:FMAT) shares saw strong trading volume on Tuesday . Approximately 222,800 shares traded hands during mid-day trading, an increase of 304% from the previous session’s volume of 55,145 shares.The stock last traded at $59.16 and had previously closed at $59.66.

Fidelity MSCI Materials Index ETF Price Performance

The stock has a market cap of $602.11 million, a PE ratio of 23.26 and a beta of 0.96. The stock has a 50-day simple moving average of $59.49 and a 200-day simple moving average of $58.04.

Institutional Trading of Fidelity MSCI Materials Index ETF

A number of institutional investors and hedge funds have recently bought and sold shares of FMAT. Flagship Harbor Advisors LLC acquired a new position in Fidelity MSCI Materials Index ETF during the fourth quarter valued at approximately $35,000. Optima Capital LLC acquired a new stake in shares of Fidelity MSCI Materials Index ETF in the fourth quarter worth $40,000. Northwestern Mutual Wealth Management Co. raised its stake in shares of Fidelity MSCI Materials Index ETF by 33.5% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,404 shares of the company’s stock valued at $70,000 after acquiring an additional 352 shares during the period. Motiv8 Investments LLC purchased a new position in shares of Fidelity MSCI Materials Index ETF in the 4th quarter valued at $83,000. Finally, Qube Research & Technologies Ltd acquired a new position in shares of Fidelity MSCI Materials Index ETF during the 2nd quarter valued at $91,000.

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.