Orion Porfolio Solutions LLC Sells 16,013 Shares of Fidelity MSCI Communication Services Index ETF $FCOM

Orion Porfolio Solutions LLC reduced its position in shares of Fidelity MSCI Communication Services Index ETF (NYSEARCA:FCOM) by 34.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 30,448 shares of the company’s stock after selling 16,013 shares during the period. Orion Porfolio Solutions LLC owned 0.12% of Fidelity MSCI Communication Services Index ETF worth $1,973,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in FCOM. Harel Insurance Investments & Financial Services Ltd. lifted its position in shares of Fidelity MSCI Communication Services Index ETF by 22.7% during the 2nd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 2,484,280 shares of the company’s stock worth $161,006,000 after buying an additional 459,088 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its holdings in Fidelity MSCI Communication Services Index ETF by 14.4% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 1,263,294 shares of the company’s stock worth $71,073,000 after acquiring an additional 158,977 shares during the period. Lido Advisors LLC boosted its position in Fidelity MSCI Communication Services Index ETF by 4.5% in the second quarter. Lido Advisors LLC now owns 1,867,729 shares of the company’s stock worth $121,048,000 after purchasing an additional 80,223 shares during the last quarter. AGF Management Ltd. grew its stake in Fidelity MSCI Communication Services Index ETF by 10.6% in the 2nd quarter. AGF Management Ltd. now owns 632,275 shares of the company’s stock valued at $40,978,000 after purchasing an additional 60,681 shares during the period. Finally, Steward Partners Investment Advisory LLC increased its position in shares of Fidelity MSCI Communication Services Index ETF by 150,853.1% during the 2nd quarter. Steward Partners Investment Advisory LLC now owns 48,305 shares of the company’s stock valued at $3,131,000 after purchasing an additional 48,273 shares during the last quarter.

Fidelity MSCI Communication Services Index ETF Stock Performance

Shares of NYSEARCA:FCOM opened at $72.48 on Friday. The company has a market capitalization of $1.88 billion, a P/E ratio of 19.08 and a beta of 1.06. The company’s 50-day moving average is $70.81 and its 200 day moving average is $68.16. Fidelity MSCI Communication Services Index ETF has a fifty-two week low of $48.96 and a fifty-two week high of $73.82.

Fidelity MSCI Communication Services Index ETF Profile

The Fidelity MSCI Communication Services Index ETF (FCOM) is an exchange-traded fund that mostly invests in communication services equity. The fund tracks a market-cap-weighted index of stocks in the US communication services sector. FCOM was launched on Oct 21, 2013 and is managed by Fidelity.