Fidelity MSCI Information Technology Index ETF (NYSEARCA:FTEC) Hits New 52-Week High – Still a Buy?

Fidelity MSCI Information Technology Index ETF (NYSEARCA:FTEC) reached a new 52-week high during mid-day trading on Friday . The stock traded as high as $240.32 and last traded at $240.27, with a volume of 106475 shares traded. The stock had previously closed at $236.20.

Fidelity MSCI Information Technology Index ETF Stock Performance

The business’s 50 day moving average price is $217.85 and its 200-day moving average price is $223.16. The company has a market cap of $17.37 billion, a price-to-earnings ratio of 35.45 and a beta of 1.26.

Institutional Trading of Fidelity MSCI Information Technology Index ETF

A number of institutional investors and hedge funds have recently added to or reduced their stakes in FTEC. Financial Life Planners bought a new stake in Fidelity MSCI Information Technology Index ETF in the third quarter valued at about $25,000. Bessemer Group Inc. bought a new stake in Fidelity MSCI Information Technology Index ETF in the third quarter valued at about $26,000. Wealth Watch Advisors INC bought a new stake in Fidelity MSCI Information Technology Index ETF in the third quarter valued at about $30,000. Strategic Advocates LLC bought a new stake in Fidelity MSCI Information Technology Index ETF in the third quarter valued at about $31,000. Finally, First Horizon Corp bought a new stake in Fidelity MSCI Information Technology Index ETF in the third quarter valued at about $34,000.

Fidelity MSCI Information Technology Index ETF Company Profile

The Fidelity MSCI Information Technology Index ETF (FTEC) is an exchange-traded fund that mostly invests in information technology equity. The fund tracks a market-cap-weighted index of stocks in the broad US information technology sector. FTEC was launched on Oct 21, 2013 and is managed by Fidelity.