Fidelity MSCI Communication Services Index ETF (NYSEARCA:FCOM) Sees Unusually-High Trading Volume – What’s Next?

Shares of Fidelity MSCI Communication Services Index ETF (NYSEARCA:FCOM) saw unusually-high trading volume on Tuesday . Approximately 293,145 shares were traded during mid-day trading, an increase of 245% from the previous session’s volume of 84,967 shares.The stock last traded at $73.3310 and had previously closed at $73.61.

Fidelity MSCI Communication Services Index ETF Price Performance

The company has a market cap of $1.93 billion, a price-to-earnings ratio of 19.08 and a beta of 1.06. The stock has a 50-day moving average price of $71.58 and a 200 day moving average price of $69.22.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Atlantic Union Bankshares Corp acquired a new stake in shares of Fidelity MSCI Communication Services Index ETF during the second quarter worth $26,000. Private Trust Co. NA increased its holdings in Fidelity MSCI Communication Services Index ETF by 1,737.5% during the 3rd quarter. Private Trust Co. NA now owns 441 shares of the company’s stock worth $31,000 after purchasing an additional 417 shares in the last quarter. Russell Investments Group Ltd. raised its stake in shares of Fidelity MSCI Communication Services Index ETF by 170.9% in the 3rd quarter. Russell Investments Group Ltd. now owns 512 shares of the company’s stock valued at $36,000 after purchasing an additional 323 shares during the period. Larson Financial Group LLC acquired a new stake in shares of Fidelity MSCI Communication Services Index ETF in the 3rd quarter valued at about $41,000. Finally, Signature Resources Capital Management LLC bought a new stake in shares of Fidelity MSCI Communication Services Index ETF in the second quarter valued at about $40,000.

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.