Fidelity MSCI Real Estate Index ETF (NYSEARCA:FREL) Sets New 52-Week High – Here’s Why

Fidelity MSCI Real Estate Index ETF (NYSEARCA:FREL) hit a new 52-week high during mid-day trading on Monday . The company traded as high as $30.72 and last traded at $30.66, with a volume of 46964 shares traded. The stock had previously closed at $30.59.

Fidelity MSCI Real Estate Index ETF Stock Up 0.5%

The company has a market capitalization of $1.53 billion, a price-to-earnings ratio of 34.96 and a beta of 0.98. The stock has a 50 day simple moving average of $29.59 and a 200 day simple moving average of $28.68.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Bank of America Corp DE grew its stake in Fidelity MSCI Real Estate Index ETF by 25,321.8% during the 1st quarter. Bank of America Corp DE now owns 10,268,643 shares of the company’s stock worth $276,329,000 after buying an additional 10,228,250 shares during the last quarter. AE Wealth Management LLC boosted its holdings in shares of Fidelity MSCI Real Estate Index ETF by 30.8% during the fourth quarter. AE Wealth Management LLC now owns 1,614,618 shares of the company’s stock valued at $43,417,000 after acquiring an additional 380,393 shares during the period. Citizens & Northern Corp boosted its holdings in shares of Fidelity MSCI Real Estate Index ETF by 32.2% during the fourth quarter. Citizens & Northern Corp now owns 1,087,071 shares of the company’s stock valued at $29,231,000 after acquiring an additional 264,741 shares during the period. Northwestern Mutual Wealth Management Co. grew its position in shares of Fidelity MSCI Real Estate Index ETF by 7.1% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 815,738 shares of the company’s stock worth $21,935,000 after acquiring an additional 54,228 shares during the last quarter. Finally, Black Diamond Financial LLC grew its position in shares of Fidelity MSCI Real Estate Index ETF by 10.9% during the fourth quarter. Black Diamond Financial LLC now owns 752,837 shares of the company’s stock worth $20,244,000 after acquiring an additional 74,069 shares during the last quarter.

About Fidelity MSCI Real Estate Index ETF

The Fidelity MSCI Real Estate Index ETF (FREL) is an exchange-traded fund that is based on the MSCI US IMI\u002FReal Estate 25-25 index. The fund tracks a cap-weighted index of US REIT and real estate companies across the entire market-cap spectrum. FREL was launched on Feb 2, 2015 and is managed by Fidelity.