Fidelity MSCI Materials Index ETF (NYSEARCA:FMAT) Sees Unusually-High Trading Volume – Should You Buy?

Fidelity MSCI Materials Index ETF (NYSEARCA:FMAT) saw unusually-high trading volume on Wednesday. 254,529 shares traded hands during mid-day trading, an increase of 361% from the previous session’s volume of 55,196 shares. The stock last traded at $56.1860 and had previously closed at $56.20.

Fidelity MSCI Materials Index ETF Stock Performance

The stock has a 50 day moving average of $59.07 and a 200-day moving average of $58.80. The firm has a market capitalization of $573.06 million, a P/E ratio of 23.26 and a beta of 0.97.

Institutional Trading of Fidelity MSCI Materials Index ETF

Several hedge funds and other institutional investors have recently modified their holdings of the business. Cetera Investment Advisers boosted its holdings in Fidelity MSCI Materials Index ETF by 614.1% in the 1st quarter. Cetera Investment Advisers now owns 100,986 shares of the company’s stock worth $5,821,000 after buying an additional 86,844 shares during the period. Bank of New York Mellon Corp bought a new position in shares of Fidelity MSCI Materials Index ETF in the first quarter worth $2,866,000. Kovitz Investment Group Partners LLC boosted its holdings 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 acquiring an additional 43,872 shares during the period. Lido Advisors LLC grew its position in shares of Fidelity MSCI Materials Index ETF by 4.9% in the first quarter. Lido Advisors LLC now owns 654,663 shares of the company’s stock valued at $37,735,000 after purchasing an additional 30,472 shares in the last quarter. Finally, Kestra Private Wealth Services LLC bought a new stake in shares of Fidelity MSCI Materials Index ETF during the 1st quarter valued at $1,068,000.

Fidelity MSCI Materials Index ETF Company 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.