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

Fidelity MSCI Communication Services Index ETF (NYSEARCA:FCOM) saw unusually-strong trading volume on Thursday . 338,382 shares changed hands during trading, an increase of 115% from the previous session’s volume of 157,632 shares.The stock last traded at $67.30 and had previously closed at $69.73.

Fidelity MSCI Communication Services Index ETF Stock Performance

The business’s fifty day simple moving average is $71.19 and its 200 day simple moving average is $71.91. The stock has a market cap of $1.74 billion, a price-to-earnings ratio of 19.08 and a beta of 1.05.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. NewEdge Advisors LLC grew its stake in Fidelity MSCI Communication Services Index ETF by 128.0% during the 1st quarter. NewEdge Advisors LLC now owns 9,354 shares of the company’s stock valued at $526,000 after purchasing an additional 5,251 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Fidelity MSCI Communication Services Index ETF by 155.9% during the 2nd quarter. JPMorgan Chase & Co. now owns 20,710 shares of the company’s stock valued at $1,342,000 after buying an additional 12,617 shares during the last quarter. Qube Research & Technologies Ltd grew its position in shares of Fidelity MSCI Communication Services Index ETF by 1,423.2% during the second quarter. Qube Research & Technologies Ltd now owns 4,920 shares of the company’s stock worth $319,000 after buying an additional 4,597 shares in the last quarter. Quantinno Capital Management LP increased its stake in shares of Fidelity MSCI Communication Services Index ETF by 25.9% in the second quarter. Quantinno Capital Management LP now owns 4,783 shares of the company’s stock worth $310,000 after buying an additional 983 shares during the last quarter. Finally, Raymond James Financial Inc. raised its holdings in Fidelity MSCI Communication Services Index ETF by 0.6% in the second quarter. Raymond James Financial Inc. now owns 49,361 shares of the company’s stock valued at $3,199,000 after acquiring an additional 278 shares in the last quarter.

Fidelity MSCI Communication Services Index ETF Company Profile

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.