Fidelity MSCI Communication Services Index ETF (NYSEARCA:FCOM) Sees Strong Trading Volume – What’s Next?

Fidelity MSCI Communication Services Index ETF (NYSEARCA:FCOM) saw an uptick in trading volume on Friday . 227,457 shares traded hands during mid-day trading, an increase of 66% from the previous session’s volume of 136,773 shares.The stock last traded at $73.3360 and had previously closed at $73.62.

Fidelity MSCI Communication Services Index ETF Stock Down 0.3%

The business’s fifty day moving average is $71.16 and its two-hundred day moving average is $68.57. The stock has a market cap of $1.90 billion, a price-to-earnings ratio of 19.08 and a beta of 1.06.

Hedge Funds Weigh In On Fidelity MSCI Communication Services Index ETF

A number of institutional investors have recently made changes to their positions in the stock. Hsbc Holdings PLC boosted its stake in shares of Fidelity MSCI Communication Services Index ETF by 43.9% during the first quarter. Hsbc Holdings PLC now owns 10,704 shares of the company’s stock valued at $602,000 after acquiring an additional 3,265 shares during the last quarter. Trexquant Investment LP acquired a new position in shares of Fidelity MSCI Communication Services Index ETF in the first quarter valued at approximately $244,000. NewEdge Advisors LLC raised its position in shares of Fidelity MSCI Communication Services Index ETF by 128.0% in the first quarter. NewEdge Advisors LLC now owns 9,354 shares of the company’s stock valued at $526,000 after buying an additional 5,251 shares during the last quarter. Ashton Thomas Private Wealth LLC lifted its stake in shares of Fidelity MSCI Communication Services Index ETF by 18.6% during the first quarter. Ashton Thomas Private Wealth LLC now owns 9,616 shares of the company’s stock valued at $541,000 after buying an additional 1,509 shares during the period. Finally, Integrity Alliance LLC. acquired a new stake in Fidelity MSCI Communication Services Index ETF during the first quarter worth approximately $765,000.

Fidelity MSCI Communication Services Index ETF Company 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.