King Wealth Management Group Cuts Stock Holdings in Fidelity MSCI Information Technology Index ETF (NYSEARCA:FTEC)

King Wealth Management Group cut its position in shares of Fidelity MSCI Information Technology Index ETF (NYSEARCA:FTEC) by 3.7% during the 3rd quarter, Holdings Channel reports. The firm owned 57,858 shares of the company’s stock after selling 2,194 shares during the quarter. Fidelity MSCI Information Technology Index ETF makes up approximately 1.6% of King Wealth Management Group’s holdings, making the stock its 17th largest holding. King Wealth Management Group’s holdings in Fidelity MSCI Information Technology Index ETF were worth $10,096,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in FTEC. Kovack Advisors Inc. raised its position in Fidelity MSCI Information Technology Index ETF by 19.0% in the third quarter. Kovack Advisors Inc. now owns 1,578 shares of the company’s stock worth $275,000 after acquiring an additional 252 shares during the period. Aptus Capital Advisors LLC increased its position in Fidelity MSCI Information Technology Index ETF by 67.3% in the third quarter. Aptus Capital Advisors LLC now owns 169 shares of the company’s stock worth $29,000 after buying an additional 68 shares during the last quarter. Savvy Advisors Inc. raised its stake in shares of Fidelity MSCI Information Technology Index ETF by 59.7% in the third quarter. Savvy Advisors Inc. now owns 7,167 shares of the company’s stock valued at $1,251,000 after buying an additional 2,678 shares during the period. Patron Partners LLC bought a new position in shares of Fidelity MSCI Information Technology Index ETF during the 3rd quarter worth $838,000. Finally, Nations Financial Group Inc. IA ADV bought a new position in shares of Fidelity MSCI Information Technology Index ETF during the 3rd quarter worth $224,000.

Fidelity MSCI Information Technology Index ETF Stock Down 0.4 %

NYSEARCA FTEC opened at $183.77 on Friday. The company’s 50 day moving average is $174.89 and its 200-day moving average is $168.91. The firm has a market cap of $11.45 billion, a P/E ratio of 37.14 and a beta of 1.41. Fidelity MSCI Information Technology Index ETF has a 12-month low of $134.55 and a 12-month high of $186.33.

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.