Fidelity MSCI Materials Index ETF (NYSEARCA:FMAT) Hits New 1-Year Low – Here’s Why

Shares of Fidelity MSCI Materials Index ETF (NYSEARCA:FMAT) reached a new 52-week low during mid-day trading on Monday . The stock traded as low as $47.24 and last traded at $47.79, with a volume of 6540 shares. The stock had previously closed at $47.95.

Fidelity MSCI Materials Index ETF Stock Performance

The company has a 50 day simple moving average of $50.00 and a 200 day simple moving average of $51.42. The company has a market capitalization of $516.22 million, a PE ratio of 24.29 and a beta of 1.13.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in FMAT. Decker Retirement Planning Inc. acquired a new position in Fidelity MSCI Materials Index ETF in the 4th quarter valued at about $33,000. O Shaughnessy Asset Management LLC increased its stake in Fidelity MSCI Materials Index ETF by 99.1% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 687 shares of the company’s stock worth $33,000 after acquiring an additional 342 shares during the last quarter. Global Retirement Partners LLC raised its position in Fidelity MSCI Materials Index ETF by 497.8% in the fourth quarter. Global Retirement Partners LLC now owns 813 shares of the company’s stock valued at $39,000 after purchasing an additional 677 shares during the period. Sound Income Strategies LLC lifted its stake in shares of Fidelity MSCI Materials Index ETF by 360.9% in the 4th quarter. Sound Income Strategies LLC now owns 1,143 shares of the company’s stock valued at $55,000 after purchasing an additional 895 shares during the last quarter. Finally, Cullen Frost Bankers Inc. grew its holdings in shares of Fidelity MSCI Materials Index ETF by 111.3% during the 4th quarter. Cullen Frost Bankers Inc. now owns 1,473 shares of the company’s stock worth $71,000 after purchasing an additional 776 shares during the period.

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.