Fidelity MSCI Materials Index ETF (NYSEARCA:FMAT) Sets New 52-Week High at $53.70

Shares of Fidelity MSCI Materials Index ETF (NYSEARCA:FMAT) hit a new 52-week high on Tuesday . The stock traded as high as $53.70 and last traded at $53.70, with a volume of 1686 shares changing hands. The stock had previously closed at $53.17.

Fidelity MSCI Materials Index ETF Price Performance

The stock has a fifty day simple moving average of $51.32 and a 200-day simple moving average of $50.98. The company has a market capitalization of $544.09 million, a price-to-earnings ratio of 15.76 and a beta of 0.92.

Institutional Investors Weigh In On Fidelity MSCI Materials Index ETF

Hedge funds have recently modified their holdings of the company. AE Wealth Management LLC raised its holdings in Fidelity MSCI Materials Index ETF by 24.4% in the 2nd quarter. AE Wealth Management LLC now owns 564,648 shares of the company’s stock worth $27,911,000 after purchasing an additional 110,641 shares during the period. Envestnet Asset Management Inc. grew its stake in Fidelity MSCI Materials Index ETF by 12.5% in the 2nd quarter. Envestnet Asset Management Inc. now owns 464,127 shares of the company’s stock valued at $22,942,000 after acquiring an additional 51,642 shares during the period. Cetera Investment Advisers increased its holdings in Fidelity MSCI Materials Index ETF by 13.9% in the 2nd quarter. Cetera Investment Advisers now owns 214,922 shares of the company’s stock worth $10,624,000 after acquiring an additional 26,169 shares in the last quarter. Commonwealth Equity Services LLC raised its position in Fidelity MSCI Materials Index ETF by 21.4% during the second quarter. Commonwealth Equity Services LLC now owns 123,019 shares of the company’s stock worth $6,081,000 after acquiring an additional 21,683 shares during the period. Finally, Advisory Services Network LLC lifted its holdings in Fidelity MSCI Materials Index ETF by 31.2% during the first quarter. Advisory Services Network LLC now owns 86,720 shares of the company’s stock valued at $4,542,000 after purchasing an additional 20,617 shares in the last quarter.

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.