Fidelity MSCI Information Technology Index ETF (NYSEARCA:FTEC) Sets New 52-Week High – Time to Buy?

Fidelity MSCI Information Technology Index ETF (NYSEARCA:FTEC) shares hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $181.52 and last traded at $181.43, with a volume of 120496 shares traded. The stock had previously closed at $179.26.

Fidelity MSCI Information Technology Index ETF Stock Performance

The company’s 50 day moving average price is $172.22 and its 200-day moving average price is $166.28. The company has a market cap of $11.33 billion, a price-to-earnings ratio of 37.14 and a beta of 1.41.

Hedge Funds Weigh In On Fidelity MSCI Information Technology Index ETF

Several hedge funds have recently made changes to their positions in the business. EverSource Wealth Advisors LLC acquired a new stake in shares of Fidelity MSCI Information Technology Index ETF during the second quarter worth approximately $32,000. Lynx Investment Advisory bought a new position in shares of Fidelity MSCI Information Technology Index ETF in the second quarter valued at approximately $37,000. Strategic Financial Concepts LLC bought a new position in shares of Fidelity MSCI Information Technology Index ETF in the second quarter valued at approximately $43,000. Advisors Preferred LLC bought a new position in Fidelity MSCI Information Technology Index ETF during the first quarter worth $63,000. Finally, McClarren Financial Advisors Inc. increased its position in Fidelity MSCI Information Technology Index ETF by 851.9% during the second quarter. McClarren Financial Advisors Inc. now owns 514 shares of the company’s stock worth $88,000 after acquiring an additional 460 shares during the period.

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.