Fidelity MSCI Financials Index ETF (NYSEARCA:FNCL) Sees Strong Trading Volume – Still a Buy?

Fidelity MSCI Financials Index ETF (NYSEARCA:FNCL) saw an uptick in trading volume on Wednesday. 673,562 shares were traded during trading, an increase of 419% from the previous session’s volume of 129,662 shares. The stock last traded at $75.8870 and had previously closed at $76.58.

Fidelity MSCI Financials Index ETF Stock Performance

The firm has a market capitalization of $2.23 billion, a PE ratio of 17.73 and a beta of 0.89. The company’s 50 day simple moving average is $81.10 and its 200-day simple moving average is $76.70.

Hedge Funds Weigh In On Fidelity MSCI Financials Index ETF

A number of institutional investors have recently added to or reduced their stakes in FNCL. Royal Bank of Canada boosted its position in shares of Fidelity MSCI Financials Index ETF by 370.6% during the 1st quarter. Royal Bank of Canada now owns 79,882 shares of the company’s stock valued at $5,608,000 after acquiring an additional 62,906 shares during the last quarter. Kestra Advisory Services LLC increased its holdings in shares of Fidelity MSCI Financials Index ETF by 17.2% in the 1st quarter. Kestra Advisory Services LLC now owns 242,191 shares of the company’s stock worth $17,002,000 after buying an additional 35,569 shares during the last quarter. Procyon Advisors LLC raised its position in shares of Fidelity MSCI Financials Index ETF by 19.2% during the 1st quarter. Procyon Advisors LLC now owns 155,754 shares of the company’s stock valued at $10,934,000 after buying an additional 25,067 shares in the last quarter. Jacobs Equity LLC bought a new stake in shares of Fidelity MSCI Financials Index ETF during the 4th quarter worth $1,601,000. Finally, Envestnet Asset Management Inc. grew its position in Fidelity MSCI Financials Index ETF by 154.9% in the second quarter. Envestnet Asset Management Inc. now owns 30,298 shares of the company’s stock worth $2,320,000 after acquiring an additional 18,414 shares in the last quarter.

Fidelity MSCI Financials Index ETF Company Profile

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.