Avantax Advisory Services Inc. Lowers Position in Fidelity MSCI Materials Index ETF (NYSEARCA:FMAT)

Avantax Advisory Services Inc. decreased its position in Fidelity MSCI Materials Index ETF (NYSEARCA:FMAT) by 77.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 9,223 shares of the company’s stock after selling 30,866 shares during the period. Avantax Advisory Services Inc. owned about 0.11% of Fidelity MSCI Materials Index ETF worth $446,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. CX Institutional acquired a new stake in shares of Fidelity MSCI Materials Index ETF in the first quarter valued at about $112,000. J.W. Cole Advisors Inc. lifted its stake in shares of Fidelity MSCI Materials Index ETF by 12.7% in the first quarter. J.W. Cole Advisors Inc. now owns 22,107 shares of the company’s stock valued at $1,068,000 after purchasing an additional 2,484 shares during the period. O Shaughnessy Asset Management LLC lifted its stake in shares of Fidelity MSCI Materials Index ETF by 99.1% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 687 shares of the company’s stock valued at $33,000 after purchasing an additional 342 shares during the period. CWM LLC lifted its stake in shares of Fidelity MSCI Materials Index ETF by 263.1% in the first quarter. CWM LLC now owns 4,560 shares of the company’s stock valued at $220,000 after purchasing an additional 3,304 shares during the period. Finally, JPMorgan Chase & Co. lifted its stake in shares of Fidelity MSCI Materials Index ETF by 28.9% in the fourth quarter. JPMorgan Chase & Co. now owns 34,710 shares of the company’s stock valued at $1,673,000 after purchasing an additional 7,772 shares during the period.

Fidelity MSCI Materials Index ETF Stock Down 0.7%

Shares of NYSEARCA FMAT opened at $50.30 on Thursday. Fidelity MSCI Materials Index ETF has a 52 week low of $41.39 and a 52 week high of $55.28. The firm has a 50-day moving average price of $50.47 and a 200 day moving average price of $49.23. The stock has a market capitalization of $414.98 million, a price-to-earnings ratio of 23.26 and a beta of 1.12.

Fidelity MSCI Materials Index ETF 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.