Fidelity MSCI Communication Services Index ETF (NYSEARCA:FCOM) Sets New 52-Week High – Here’s What Happened

Fidelity MSCI Communication Services Index ETF (NYSEARCA:FCOM)’s share price reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $76.00 and last traded at $74.9750, with a volume of 881 shares trading hands. The stock had previously closed at $75.21.

Fidelity MSCI Communication Services Index ETF Stock Down 2.5%

The stock has a 50 day simple moving average of $73.17 and a 200 day simple moving average of $70.53. The stock has a market cap of $1.89 billion, a price-to-earnings ratio of 19.08 and a beta of 1.06.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. Atlantic Union Bankshares Corp acquired a new stake in shares of Fidelity MSCI Communication Services Index ETF in the 2nd quarter worth about $26,000. Private Trust Co. NA raised its stake in shares of Fidelity MSCI Communication Services Index ETF by 1,737.5% in the third quarter. Private Trust Co. NA now owns 441 shares of the company’s stock worth $31,000 after purchasing an additional 417 shares during the last quarter. Russell Investments Group Ltd. boosted its position in shares of Fidelity MSCI Communication Services Index ETF by 170.9% during the third quarter. Russell Investments Group Ltd. now owns 512 shares of the company’s stock valued at $36,000 after buying an additional 323 shares during the last quarter. Larson Financial Group LLC purchased a new stake in Fidelity MSCI Communication Services Index ETF in the 3rd quarter valued at $41,000. Finally, New Millennium Group LLC boosted its holdings in Fidelity MSCI Communication Services Index ETF by 38.2% during the second quarter. New Millennium Group LLC now owns 727 shares of the company’s stock worth $47,000 after purchasing an additional 201 shares during the last quarter.

About Fidelity MSCI Communication Services Index ETF

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.