Fidelity MSCI Communication Services Index ETF (NYSEARCA:FCOM) Hits New 52-Week High – Time to Buy?

Fidelity MSCI Communication Services Index ETF (NYSEARCA:FCOM)’s share price hit a new 52-week high during mid-day trading on Monday . The company traded as high as $55.73 and last traded at $55.65, with a volume of 7783 shares changing hands. The stock had previously closed at $55.32.

Fidelity MSCI Communication Services Index ETF Trading Down 0.2 %

The company’s fifty day simple moving average is $53.08 and its 200 day simple moving average is $51.54. The firm has a market capitalization of $1.19 billion, a P/E ratio of 26.44 and a beta of 1.22.

Institutional Investors Weigh In On Fidelity MSCI Communication Services Index ETF

Several hedge funds and other institutional investors have recently added to or reduced their stakes in FCOM. New Millennium Group LLC bought a new stake in Fidelity MSCI Communication Services Index ETF in the second quarter worth $28,000. Pathway Financial Advisers LLC purchased a new stake in Fidelity MSCI Communication Services Index ETF during the 1st quarter valued at about $34,000. American National Bank increased its stake in Fidelity MSCI Communication Services Index ETF by 57.1% during the 1st quarter. American National Bank now owns 1,277 shares of the company’s stock valued at $63,000 after purchasing an additional 464 shares in the last quarter. Comerica Bank raised its holdings in Fidelity MSCI Communication Services Index ETF by 27.7% in the first quarter. Comerica Bank now owns 2,203 shares of the company’s stock worth $109,000 after buying an additional 478 shares during the last quarter. Finally, Sunbelt Securities Inc. lifted its stake in shares of Fidelity MSCI Communication Services Index ETF by 25.6% in the first quarter. Sunbelt Securities Inc. now owns 2,349 shares of the company’s stock worth $116,000 after buying an additional 479 shares in the last quarter.

Fidelity MSCI Communication Services Index ETF Company Profile

The Fidelity MSCI Communication Services Index ETF (FCOM) is an exchange-traded fund that mostly invests in communication services equity. The fund tracks a market-cap-weighted index of stocks in the US communication services sector. FCOM was launched on Oct 21, 2013 and is managed by Fidelity.