Fidelity MSCI Communication Services Index ETF (NYSEARCA:FCOM) Sees Strong Trading Volume – Time to Buy?

Fidelity MSCI Communication Services Index ETF (NYSEARCA:FCOM) saw unusually-high trading volume on Tuesday. 2,084,022 shares changed hands during mid-day trading, an increase of 1,030% from the previous session’s volume of 184,500 shares. The stock last traded at $71.2620 and had previously closed at $71.29.

Fidelity MSCI Communication Services Index ETF Trading Down 0.0%

The business’s 50 day moving average is $71.75 and its two-hundred day moving average is $71.79. The company has a market cap of $1.76 billion, a PE ratio of 19.08 and a beta of 1.04.

Institutional Investors Weigh In On Fidelity MSCI Communication Services Index ETF

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Allied Private Wealth LLC purchased a new position in shares of Fidelity MSCI Communication Services Index ETF in the second quarter valued at about $30,000. Rockefeller Capital Management L.P. boosted its stake in shares of Fidelity MSCI Communication Services Index ETF by 24.8% in the fourth quarter. Rockefeller Capital Management L.P. now owns 1,594 shares of the company’s stock worth $117,000 after acquiring an additional 317 shares during the period. Integrated Wealth Concepts LLC purchased a new stake in shares of Fidelity MSCI Communication Services Index ETF during the second quarter worth about $134,000. Western Wealth Management LLC purchased a new stake in shares of Fidelity MSCI Communication Services Index ETF during the first quarter worth about $141,000. Finally, Fifth Third Bancorp grew its position in shares of Fidelity MSCI Communication Services Index ETF by 33.6% during the first quarter. Fifth Third Bancorp now owns 3,196 shares of the company’s stock worth $218,000 after purchasing an additional 803 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.