Advisory Services Network LLC Sells 43,271 Shares of Fidelity MSCI Materials Index ETF (NYSEARCA:FMAT)

Advisory Services Network LLC reduced its holdings in Fidelity MSCI Materials Index ETF (NYSEARCA:FMAT) by 49.1% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 44,821 shares of the company’s stock after selling 43,271 shares during the quarter. Advisory Services Network LLC’s holdings in Fidelity MSCI Materials Index ETF were worth $2,160,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the business. Envestnet Asset Management Inc. lifted its stake in Fidelity MSCI Materials Index ETF by 4.3% in the fourth quarter. Envestnet Asset Management Inc. now owns 573,750 shares of the company’s stock worth $27,649,000 after acquiring an additional 23,663 shares during the period. O Shaughnessy Asset Management LLC lifted its position in shares of Fidelity MSCI Materials Index ETF by 99.1% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 687 shares of the company’s stock worth $33,000 after purchasing an additional 342 shares during the period. Orion Portfolio Solutions LLC lifted its position in shares of Fidelity MSCI Materials Index ETF by 11.8% in the 4th quarter. Orion Portfolio Solutions LLC now owns 6,484 shares of the company’s stock worth $312,000 after purchasing an additional 685 shares during the period. JPMorgan Chase & Co. boosted its stake in shares of Fidelity MSCI Materials Index ETF by 28.9% during the 4th quarter. JPMorgan Chase & Co. now owns 34,710 shares of the company’s stock valued at $1,673,000 after purchasing an additional 7,772 shares in the last quarter. Finally, Modern Wealth Management LLC purchased a new position in shares of Fidelity MSCI Materials Index ETF during the fourth quarter valued at about $1,851,000.

Fidelity MSCI Materials Index ETF Price Performance

Shares of FMAT opened at $45.47 on Friday. The company has a 50-day simple moving average of $48.72 and a two-hundred day simple moving average of $50.83. The firm has a market capitalization of $409.23 million, a PE ratio of 22.55 and a beta of 1.10. Fidelity MSCI Materials Index ETF has a one year low of $41.39 and a one year high of $55.28.

Fidelity MSCI Materials Index ETF Company Profile

The Fidelity MSCI Materials Index ETF (FMAT) is an exchange-traded fund that is based on the MSCI USA IMI Materials 25\u002F50 index, a market-cap-weighted index of stocks in the US basic materials sector across the entire market-cap spectrum. FMAT was launched on Oct 21, 2013 and is managed by Fidelity.