Fidelity MSCI Materials Index ETF (NYSEARCA:FMAT) Sees Large Volume Increase – Here’s Why

Fidelity MSCI Materials Index ETF (NYSEARCA:FMAT) saw unusually-strong trading volume on Tuesday . Approximately 99,026 shares traded hands during trading, an increase of 93% from the previous session’s volume of 51,261 shares.The stock last traded at $57.14 and had previously closed at $56.30.

Fidelity MSCI Materials Index ETF Trading Up 1.4%

The firm has a market capitalization of $514.10 million, a P/E ratio of 23.26 and a beta of 1.07. The business’s 50 day simple moving average is $59.15 and its two-hundred day simple moving average is $54.84.

Institutional Investors Weigh In On Fidelity MSCI Materials Index ETF

Several institutional investors and hedge funds have recently made changes to their positions in the company. Northwestern Mutual Wealth Management Co. lifted its position in Fidelity MSCI Materials Index ETF by 23,517.9% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 334,902 shares of the company’s stock valued at $17,787,000 after acquiring an additional 333,484 shares in the last quarter. AE Wealth Management LLC increased its holdings in shares of Fidelity MSCI Materials Index ETF by 25.8% in the 4th quarter. AE Wealth Management LLC now owns 1,328,708 shares of the company’s stock worth $70,568,000 after purchasing an additional 272,726 shares in the last quarter. Lido Advisors LLC increased its holdings in shares of Fidelity MSCI Materials Index ETF by 8.7% in the 3rd quarter. Lido Advisors LLC now owns 623,248 shares of the company’s stock worth $32,677,000 after purchasing an additional 49,681 shares in the last quarter. Kovitz Investment Group Partners LLC raised its stake in shares of Fidelity MSCI Materials Index ETF by 83.4% in the fourth quarter. Kovitz Investment Group Partners LLC now owns 96,473 shares of the company’s stock worth $5,124,000 after purchasing an additional 43,872 shares during the last quarter. Finally, Mach 1 Financial Group LLC purchased a new position in shares of Fidelity MSCI Materials Index ETF in the fourth quarter worth $1,609,000.

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.