Fidelity MSCI Information Technology Index ETF (NYSEARCA:FTEC) Hits New 12-Month High – Time to Buy?

Fidelity MSCI Information Technology Index ETF (NYSEARCA:FTEC)’s share price reached a new 52-week high on Wednesday. The stock traded as high as $302.17 and last traded at $301.8830, with a volume of 98171 shares traded. The stock had previously closed at $298.08.

Fidelity MSCI Information Technology Index ETF Stock Up 1.2%

The stock has a market cap of $22.16 billion, a PE ratio of 35.45 and a beta of 1.35. The company has a fifty day moving average price of $285.49 and a 200 day moving average price of $266.60.

Hedge Funds Weigh In On Fidelity MSCI Information Technology Index ETF

Hedge funds have recently bought and sold shares of the company. Lido Advisors LLC increased its holdings in Fidelity MSCI Information Technology Index ETF by 3.6% in the 1st quarter. Lido Advisors LLC now owns 2,175,818 shares of the company’s stock worth $452,679,000 after buying an additional 75,631 shares in the last quarter. LPL Financial LLC lifted its position in Fidelity MSCI Information Technology Index ETF by 14.1% during the fourth quarter. LPL Financial LLC now owns 694,702 shares of the company’s stock valued at $156,079,000 after purchasing an additional 85,840 shares in the last quarter. Kestra Advisory Services LLC grew its stake in shares of Fidelity MSCI Information Technology Index ETF by 6.1% during the 1st quarter. Kestra Advisory Services LLC now owns 183,454 shares of the company’s stock valued at $38,168,000 after acquiring an additional 10,516 shares during the period. Principal Securities Inc. lifted its stake in shares of Fidelity MSCI Information Technology Index ETF by 72.0% during the 4th quarter. Principal Securities Inc. now owns 149,048 shares of the company’s stock valued at $33,487,000 after buying an additional 62,396 shares in the last quarter. Finally, Morningstar Investment Management LLC boosted its stake in Fidelity MSCI Information Technology Index ETF by 24.0% in the 1st quarter. Morningstar Investment Management LLC now owns 117,953 shares of the company’s stock worth $24,540,000 after purchasing an additional 22,808 shares during the period.

Fidelity MSCI Information Technology Index ETF Company Profile

The Fidelity MSCI Information Technology Index ETF (FTEC) is an exchange-traded fund that mostly invests in information technology equity. The fund tracks a market-cap-weighted index of stocks in the broad US information technology sector. FTEC was launched on Oct 21, 2013 and is managed by Fidelity.