Fidelity MSCI Communication Services Index ETF (NYSEARCA:FCOM) Sees Unusually-High Trading Volume – What’s Next?

Fidelity MSCI Communication Services Index ETF (NYSEARCA:FCOM) shares saw unusually-high trading volume on Friday . Approximately 455,261 shares changed hands during trading, an increase of 212% from the previous session’s volume of 146,088 shares.The stock last traded at $74.47 and had previously closed at $74.41.

Fidelity MSCI Communication Services Index ETF Stock Performance

The stock’s fifty day moving average is $71.46 and its two-hundred day moving average is $71.75. The firm has a market cap of $1.76 billion, a price-to-earnings ratio of 19.08 and a beta of 1.06.

Hedge Funds Weigh In On Fidelity MSCI Communication Services Index ETF

Several large investors have recently bought and sold shares of FCOM. NewEdge Advisors LLC increased its stake in Fidelity MSCI Communication Services Index ETF by 128.0% during the 1st quarter. NewEdge Advisors LLC now owns 9,354 shares of the company’s stock valued at $526,000 after buying an additional 5,251 shares during the period. JPMorgan Chase & Co. grew its stake in shares of Fidelity MSCI Communication Services Index ETF by 155.9% in the 2nd quarter. JPMorgan Chase & Co. now owns 20,710 shares of the company’s stock worth $1,342,000 after purchasing an additional 12,617 shares during the last quarter. Qube Research & Technologies Ltd lifted its position in shares of Fidelity MSCI Communication Services Index ETF by 1,423.2% in the 2nd quarter. Qube Research & Technologies Ltd now owns 4,920 shares of the company’s stock valued at $319,000 after acquiring an additional 4,597 shares in the last quarter. Quantinno Capital Management LP lifted its position in shares of Fidelity MSCI Communication Services Index ETF by 25.9% in the 2nd quarter. Quantinno Capital Management LP now owns 4,783 shares of the company’s stock valued at $310,000 after acquiring an additional 983 shares in the last quarter. Finally, Raymond James Financial Inc. lifted its position in shares of Fidelity MSCI Communication Services Index ETF by 0.6% in the 2nd quarter. Raymond James Financial Inc. now owns 49,361 shares of the company’s stock valued at $3,199,000 after acquiring an additional 278 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.