Exchange Capital Management Inc. Lowers Stake in Fidelity MSCI Materials Index ETF (NYSEARCA:FMAT)

Exchange Capital Management Inc. cut its position in shares of Fidelity MSCI Materials Index ETF (NYSEARCA:FMAT) by 6.2% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 18,869 shares of the company’s stock after selling 1,252 shares during the quarter. Exchange Capital Management Inc. owned approximately 0.19% of Fidelity MSCI Materials Index ETF worth $988,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Lynch & Associates IN lifted its position in Fidelity MSCI Materials Index ETF by 6.4% during the fourth quarter. Lynch & Associates IN now owns 7,738 shares of the company’s stock valued at $377,000 after buying an additional 468 shares in the last quarter. Corient Private Wealth LLC lifted its position in Fidelity MSCI Materials Index ETF by 2.1% during the fourth quarter. Corient Private Wealth LLC now owns 30,651 shares of the company’s stock valued at $1,494,000 after buying an additional 636 shares in the last quarter. Sachetta LLC acquired a new position in Fidelity MSCI Materials Index ETF during the fourth quarter valued at approximately $36,000. Sunbelt Securities Inc. lifted its position in Fidelity MSCI Materials Index ETF by 3.5% during the first quarter. Sunbelt Securities Inc. now owns 26,361 shares of the company’s stock valued at $1,381,000 after buying an additional 889 shares in the last quarter. Finally, Yoder Wealth Management Inc. lifted its position in Fidelity MSCI Materials Index ETF by 12.0% during the fourth quarter. Yoder Wealth Management Inc. now owns 15,766 shares of the company’s stock valued at $768,000 after buying an additional 1,688 shares in the last quarter.

Fidelity MSCI Materials Index ETF Stock Up 0.2 %

Shares of FMAT stock opened at $48.80 on Wednesday. The stock has a market cap of $492.88 million, a price-to-earnings ratio of 15.76 and a beta of 0.92. Fidelity MSCI Materials Index ETF has a fifty-two week low of $41.62 and a fifty-two week high of $52.77. The firm’s 50 day moving average price is $50.70 and its two-hundred day moving average price is $49.68.

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.