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

Fidelity MSCI Materials Index ETF (NYSEARCA:FMAT) saw unusually-high trading volume on Monday . Approximately 73,238 shares traded hands during mid-day trading, an increase of 102% from the previous session’s volume of 36,226 shares.The stock last traded at $54.27 and had previously closed at $54.13.

Fidelity MSCI Materials Index ETF Price Performance

The company has a 50 day simple moving average of $52.19 and a 200-day simple moving average of $51.26. The stock has a market capitalization of $554.03 million, a P/E ratio of 15.76 and a beta of 0.92.

Institutional Investors Weigh In On Fidelity MSCI Materials Index ETF

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Sunbelt Securities Inc. raised its holdings in Fidelity MSCI Materials Index ETF by 1.5% during the 2nd quarter. Sunbelt Securities Inc. now owns 26,746 shares of the company’s stock valued at $1,322,000 after acquiring an additional 385 shares during the period. SeaCrest Wealth Management LLC boosted its stake in Fidelity MSCI Materials Index ETF by 2.9% in the 3rd quarter. SeaCrest Wealth Management LLC now owns 14,533 shares of the company’s stock worth $788,000 after purchasing an additional 403 shares during the period. Lynch & Associates IN increased its position in shares of Fidelity MSCI Materials Index ETF by 4.8% during the third quarter. Lynch & Associates IN now owns 9,607 shares of the company’s stock valued at $521,000 after buying an additional 440 shares during the period. J.W. Cole Advisors Inc. lifted its holdings in shares of Fidelity MSCI Materials Index ETF by 3.4% in the second quarter. J.W. Cole Advisors Inc. now owns 17,547 shares of the company’s stock worth $867,000 after buying an additional 573 shares in the last quarter. Finally, Mather Group LLC. lifted its holdings in shares of Fidelity MSCI Materials Index ETF by 1.9% in the second quarter. Mather Group LLC. now owns 32,768 shares of the company’s stock worth $1,716,000 after buying an additional 598 shares in the last quarter.

Fidelity MSCI Materials Index ETF Company Profile

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.