Fidelity MSCI Financials Index ETF (NYSEARCA:FNCL) Hits New 12-Month High – Time to Buy?

Fidelity MSCI Financials Index ETF (NYSEARCA:FNCL) reached a new 52-week high on Tuesday . The company traded as high as $80.64 and last traded at $80.59, with a volume of 6161 shares changing hands. The stock had previously closed at $79.86.

Fidelity MSCI Financials Index ETF Trading Up 1.1%

The firm has a market capitalization of $2.36 billion, a P/E ratio of 17.73 and a beta of 0.90. The company has a 50-day moving average of $75.38 and a 200-day moving average of $74.72.

Institutional Investors Weigh In On Fidelity MSCI Financials Index ETF

Several institutional investors and hedge funds have recently made changes to their positions in FNCL. Lido Advisors LLC lifted its stake in shares of Fidelity MSCI Financials Index ETF by 7.8% in the third quarter. Lido Advisors LLC now owns 2,704,058 shares of the company’s stock worth $206,428,000 after acquiring an additional 196,045 shares during the period. Charles Schwab Investment Management Inc. increased its position in Fidelity MSCI Financials Index ETF by 2.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,882,009 shares of the company’s stock valued at $146,307,000 after purchasing an additional 51,401 shares during the period. Commonwealth Equity Services LLC raised its holdings in Fidelity MSCI Financials Index ETF by 5.7% during the 4th quarter. Commonwealth Equity Services LLC now owns 474,222 shares of the company’s stock worth $36,866,000 after purchasing an additional 25,627 shares during the last quarter. LPL Financial LLC raised its holdings in Fidelity MSCI Financials Index ETF by 19.2% during the 4th quarter. LPL Financial LLC now owns 347,864 shares of the company’s stock worth $27,043,000 after purchasing an additional 56,045 shares during the last quarter. Finally, Mercer Global Advisors Inc. ADV lifted its position in shares of Fidelity MSCI Financials Index ETF by 3,442.3% in the 3rd quarter. Mercer Global Advisors Inc. ADV now owns 274,140 shares of the company’s stock worth $20,928,000 after purchasing an additional 266,401 shares during the period.

About Fidelity MSCI Financials Index ETF

The Fidelity MSCI Financials Index ETF (FNCL) is an exchange-traded fund that is based on the MSCI USA IMI Financials 25\u002F50 index, a market-cap-weighted index of US financial companies across the entire market-cap spectrum. FNCL was launched on Oct 21, 2013 and is managed by Fidelity.