Fidelity Disruptive Technology ETF (NASDAQ:FDTX) Trading 4% Higher – Time to Buy?

Fidelity Disruptive Technology ETF (NASDAQ:FDTX)’s share price shot up 4% on Tuesday . The company traded as high as $52.85 and last traded at $52.65. 78,321 shares changed hands during trading, an increase of 130% from the average daily volume of 34,012 shares. The stock had previously closed at $50.64.

Fidelity Disruptive Technology ETF Price Performance

The firm’s 50-day simple moving average is $53.88 and its 200 day simple moving average is $45.35. The firm has a market capitalization of $273.64 million, a price-to-earnings ratio of 36.21 and a beta of 1.68.

Institutional Investors Weigh In On Fidelity Disruptive Technology ETF

Several hedge funds have recently modified their holdings of the company. Kestra Advisory Services LLC bought a new stake in shares of Fidelity Disruptive Technology ETF during the fourth quarter worth about $31,000. Sunbelt Securities Inc. bought a new stake in Fidelity Disruptive Technology ETF during the 3rd quarter worth approximately $34,000. Northwestern Mutual Wealth Management Co. increased its position in Fidelity Disruptive Technology ETF by 1,017.0% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,050 shares of the company’s stock valued at $45,000 after acquiring an additional 956 shares during the period. High Point Wealth Management LLC bought a new position in shares of Fidelity Disruptive Technology ETF during the fourth quarter valued at $41,000. Finally, LPL Financial LLC lifted its holdings in shares of Fidelity Disruptive Technology ETF by 16.4% during the fourth quarter. LPL Financial LLC now owns 7,086 shares of the company’s stock worth $289,000 after purchasing an additional 1,000 shares during the period.

Fidelity Disruptive Technology ETF Company Profile

The Fidelity Disruptive Technology ETF (FDTX) is an exchange-traded fund that mostly invests in stocks based on a particular theme. The fund is an actively managed fund that invests in innovative businesses believed to have the potential for market disruption. The fund holds global disruptive technology companies, from machine learning to next-generation hardware and AI. FDTX was launched on Apr 16, 2020 and is managed by Fidelity.