Fidelity MSCI Materials Index ETF (NYSEARCA:FMAT) Shares Up 1.4% – What’s Next?

Fidelity MSCI Materials Index ETF (NYSEARCA:FMAT) shares shot up 1.4% during mid-day trading on Wednesday . The stock traded as high as $58.01 and last traded at $57.79. 37,681 shares changed hands during trading, a decline of 37% from the average daily volume of 59,793 shares. The stock had previously closed at $56.99.

Fidelity MSCI Materials Index ETF Stock Up 1.4%

The firm has a market cap of $583.68 million, a price-to-earnings ratio of 23.26 and a beta of 0.97. The company’s 50-day moving average price is $58.67 and its 200-day moving average price is $58.87.

Institutional Investors Weigh In On Fidelity MSCI Materials Index ETF

Several institutional investors have recently bought and sold shares of FMAT. Jones Financial Companies Lllp raised its holdings in shares of Fidelity MSCI Materials Index ETF by 1,778.8% during the first quarter. Jones Financial Companies Lllp now owns 2,480 shares of the company’s stock valued at $124,000 after acquiring an additional 2,348 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of Fidelity MSCI Materials Index ETF by 1.2% in the first quarter. Goldman Sachs Group Inc. now owns 50,589 shares of the company’s stock worth $2,444,000 after acquiring an additional 589 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its position in shares of Fidelity MSCI Materials Index ETF by 33.5% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,404 shares of the company’s stock worth $70,000 after purchasing an additional 352 shares in the last quarter. Qube Research & Technologies Ltd purchased a new stake in shares of Fidelity MSCI Materials Index ETF during the second quarter worth approximately $91,000. Finally, Bank of America Corp DE raised its stake in Fidelity MSCI Materials Index ETF by 13.2% in the 2nd quarter. Bank of America Corp DE now owns 19,874 shares of the company’s stock valued at $991,000 after purchasing an additional 2,319 shares during the last quarter.

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.