Fidelity MSCI Materials Index ETF (NYSEARCA:FMAT) Sets New 1-Year High – Here’s Why

Fidelity MSCI Materials Index ETF (NYSEARCA:FMAT) reached a new 52-week high on Wednesday . The stock traded as high as $62.84 and last traded at $61.7920, with a volume of 7294 shares changing hands. The stock had previously closed at $62.34.

Fidelity MSCI Materials Index ETF Price Performance

The firm has a market cap of $545.95 million, a PE ratio of 23.26 and a beta of 1.07. The company has a 50-day simple moving average of $57.69 and a 200-day simple moving average of $53.88.

Institutional Trading of Fidelity MSCI Materials Index ETF

Institutional investors and hedge funds have recently made changes to their positions in the company. Caldwell Trust Co bought a new position in Fidelity MSCI Materials Index ETF during the 3rd quarter worth about $26,000. Atlantic Union Bankshares Corp bought a new position in Fidelity MSCI Materials Index ETF in the third quarter worth approximately $27,000. Howe & Rusling Inc. purchased a new stake in Fidelity MSCI Materials Index ETF during the second quarter worth $35,000. Flagship Harbor Advisors LLC purchased a new position in shares of Fidelity MSCI Materials Index ETF in the 4th quarter valued at $35,000. Finally, Optima Capital LLC purchased a new stake in shares of Fidelity MSCI Materials Index ETF during the 4th quarter worth $40,000.

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.