Fidelity MSCI Information Technology Index ETF (NYSEARCA:FTEC) Hits New 1-Year High – Time to Buy?

Shares of Fidelity MSCI Information Technology Index ETF (NYSEARCA:FTEC) hit a new 52-week high during mid-day trading on Monday . The company traded as high as $192.43 and last traded at $192.35, with a volume of 167983 shares trading hands. The stock had previously closed at $190.53.

Fidelity MSCI Information Technology Index ETF Trading Down 3.3 %

The company has a market cap of $11.53 billion, a P/E ratio of 37.14 and a beta of 1.41. The business’s 50 day simple moving average is $183.06 and its 200 day simple moving average is $174.15.

Institutional Investors Weigh In On Fidelity MSCI Information Technology Index ETF

Institutional investors have recently added to or reduced their stakes in the stock. International Assets Investment Management LLC lifted its position in shares of Fidelity MSCI Information Technology Index ETF by 46,646.4% in the third quarter. International Assets Investment Management LLC now owns 811,050 shares of the company’s stock worth $1,415,280,000 after buying an additional 809,315 shares in the last quarter. Kestra Investment Management LLC purchased a new stake in shares of Fidelity MSCI Information Technology Index ETF during the 2nd quarter worth approximately $23,275,000. Eaton Financial Holdings Company LLC purchased a new stake in shares of Fidelity MSCI Information Technology Index ETF during the 3rd quarter worth approximately $12,347,000. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Fidelity MSCI Information Technology Index ETF by 93.5% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 98,320 shares of the company’s stock valued at $17,096,000 after acquiring an additional 47,500 shares during the last quarter. Finally, AGF Management Ltd. grew its holdings in shares of Fidelity MSCI Information Technology Index ETF by 18.4% in the second quarter. AGF Management Ltd. now owns 263,567 shares of the company’s stock valued at $45,207,000 after purchasing an additional 40,910 shares in the last quarter.

About Fidelity MSCI Information Technology Index ETF

The Fidelity MSCI Information Technology Index ETF (FTEC) is an exchange-traded fund that mostly invests in information technology equity. The fund tracks a market-cap-weighted index of stocks in the broad US information technology sector. FTEC was launched on Oct 21, 2013 and is managed by Fidelity.