Fidelity MSCI Information Technology Index ETF (NYSEARCA:FTEC) Sees Large Volume Increase – Time to Buy?

Fidelity MSCI Information Technology Index ETF (NYSEARCA:FTEC) saw strong trading volume on Wednesday . 540,988 shares changed hands during mid-day trading, an increase of 66% from the previous session’s volume of 326,755 shares.The stock last traded at $191.95 and had previously closed at $188.17.

Fidelity MSCI Information Technology Index ETF Price Performance

The company has a market capitalization of $11.87 billion, a PE ratio of 37.14 and a beta of 1.41. The business has a 50-day moving average of $187.21 and a 200 day moving average of $177.35.

Hedge Funds Weigh In On Fidelity MSCI Information Technology Index ETF

Large investors have recently added to or reduced their stakes in the company. Catalina Capital Group LLC lifted its holdings in Fidelity MSCI Information Technology Index ETF by 4.2% in the fourth quarter. Catalina Capital Group LLC now owns 2,711 shares of the company’s stock valued at $501,000 after acquiring an additional 110 shares during the period. U.S. Capital Wealth Advisors LLC boosted its holdings in Fidelity MSCI Information Technology Index ETF by 21.2% in the 4th quarter. U.S. Capital Wealth Advisors LLC now owns 2,636 shares of the company’s stock valued at $487,000 after purchasing an additional 461 shares during the last quarter. DAVENPORT & Co LLC increased its position in shares of Fidelity MSCI Information Technology Index ETF by 8.7% during the 4th quarter. DAVENPORT & Co LLC now owns 8,423 shares of the company’s stock worth $1,557,000 after purchasing an additional 671 shares during the last quarter. Yoder Wealth Management Inc. boosted its position in shares of Fidelity MSCI Information Technology Index ETF by 27.9% during the 4th quarter. Yoder Wealth Management Inc. now owns 48,728 shares of the company’s stock worth $9,009,000 after purchasing an additional 10,618 shares during the period. Finally, RHS Financial LLC lifted its stake in Fidelity MSCI Information Technology Index ETF by 10.4% during the 4th quarter. RHS Financial LLC now owns 3,363 shares of the company’s stock worth $622,000 after acquiring an additional 316 shares in the last quarter.

About Fidelity MSCI Information Technology Index ETF

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.