Fidelity MSCI Information Technology Index ETF (NYSEARCA:FTEC) Hits New 12-Month High – Time to Buy?

Fidelity MSCI Information Technology Index ETF (NYSEARCA:FTEC) hit a new 52-week high on Tuesday . The company traded as high as $181.52 and last traded at $181.43, with a volume of 120496 shares changing hands. The stock had previously closed at $179.26.

Fidelity MSCI Information Technology Index ETF Stock Performance

The company has a market cap of $10.78 billion, a price-to-earnings ratio of 37.14 and a beta of 1.41. The company’s 50 day moving average price is $172.53 and its 200-day moving average price is $166.57.

Institutional Investors Weigh In On Fidelity MSCI Information Technology Index ETF

Large investors have recently modified their holdings of the stock. WealthShield Partners LLC lifted its position in shares of Fidelity MSCI Information Technology Index ETF by 2.2% in the 2nd quarter. WealthShield Partners LLC now owns 3,377 shares of the company’s stock valued at $579,000 after acquiring an additional 73 shares in the last quarter. Capital Advisors Inc. OK boosted its position in shares of Fidelity MSCI Information Technology Index ETF by 4.0% in the third quarter. Capital Advisors Inc. OK now owns 1,933 shares of the company’s stock worth $337,000 after buying an additional 74 shares during the period. Fifth Third Securities Inc. raised its position in Fidelity MSCI Information Technology Index ETF by 3.7% during the second quarter. Fifth Third Securities Inc. now owns 2,158 shares of the company’s stock valued at $370,000 after buying an additional 76 shares during the period. AdvisorNet Financial Inc lifted its stake in Fidelity MSCI Information Technology Index ETF by 2.4% in the 2nd quarter. AdvisorNet Financial Inc now owns 3,485 shares of the company’s stock worth $598,000 after acquiring an additional 81 shares in the last quarter. Finally, Liberty Wealth Management LLC boosted its position in Fidelity MSCI Information Technology Index ETF by 1.7% during the 2nd quarter. Liberty Wealth Management LLC now owns 5,412 shares of the company’s stock worth $928,000 after acquiring an additional 93 shares during the period.

About Fidelity MSCI Information Technology Index ETF

The Fidelity MSCI Information Technology Index ETF (FTEC) is an exchange-traded fund that mostly invests in information technology equity. The fund tracks a market-cap-weighted index of stocks in the broad US information technology sector. FTEC was launched on Oct 21, 2013 and is managed by Fidelity.