Fidelity MSCI Materials Index ETF (NYSEARCA:FMAT) Sets New 52-Week High – Here’s Why
by Danessa Lincoln · The Markets DailyFidelity MSCI Materials Index ETF (NYSEARCA:FMAT – Get Free Report) shares hit a new 52-week high during trading on Tuesday . The stock traded as high as $59.91 and last traded at $59.7490, with a volume of 11857 shares changing hands. The stock had previously closed at $58.13.
Fidelity MSCI Materials Index ETF Stock Performance
The business’s 50 day moving average is $54.73 and its 200-day moving average is $52.74. The stock has a market cap of $521.72 million, a price-to-earnings ratio of 23.26 and a beta of 1.07.
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Caldwell Trust Co purchased a new stake in Fidelity MSCI Materials Index ETF during the 3rd quarter worth approximately $26,000. Atlantic Union Bankshares Corp acquired a new stake in shares of Fidelity MSCI Materials Index ETF in the third quarter worth approximately $27,000. Howe & Rusling Inc. purchased a new stake in shares of Fidelity MSCI Materials Index ETF during the second quarter worth approximately $35,000. Flagship Harbor Advisors LLC acquired a new position in Fidelity MSCI Materials Index ETF in the 4th quarter valued at $35,000. Finally, Ameritas Advisory Services LLC acquired a new position in Fidelity MSCI Materials Index ETF in the 2nd quarter valued at $36,000.
About Fidelity MSCI Materials Index ETF
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.