Fidelity MSCI Communication Services Index ETF (NYSEARCA:FCOM) Reaches New 52-Week High – Should You Buy?

Fidelity MSCI Communication Services Index ETF (NYSEARCA:FCOM)’s stock price reached a new 52-week high on Monday . The stock traded as high as $59.43 and last traded at $59.42, with a volume of 65448 shares trading hands. The stock had previously closed at $58.87.

Fidelity MSCI Communication Services Index ETF Price Performance

The business’s 50-day simple moving average is $56.65 and its 200-day simple moving average is $53.49. The company has a market cap of $1.29 billion, a price-to-earnings ratio of 26.44 and a beta of 1.22.

Institutional Trading of Fidelity MSCI Communication Services Index ETF

A number of large investors have recently made changes to their positions in FCOM. Commonwealth Equity Services LLC boosted its position in Fidelity MSCI Communication Services Index ETF by 45.3% during the second quarter. Commonwealth Equity Services LLC now owns 371,542 shares of the company’s stock worth $19,406,000 after acquiring an additional 115,797 shares during the last quarter. AGF Management Ltd. grew its position in shares of Fidelity MSCI Communication Services Index ETF by 18.4% in the second quarter. AGF Management Ltd. now owns 300,084 shares of the company’s stock valued at $15,673,000 after purchasing an additional 46,580 shares during the period. Axxcess Wealth Management LLC boosted its position in shares of Fidelity MSCI Communication Services Index ETF by 211.4% in the second quarter. Axxcess Wealth Management LLC now owns 40,248 shares of the company’s stock worth $2,102,000 after acquiring an additional 27,324 shares during the last quarter. Beckerman Institutional LLC acquired a new position in shares of Fidelity MSCI Communication Services Index ETF in the 3rd quarter valued at $1,279,000. Finally, Meridian Wealth Management LLC purchased a new stake in shares of Fidelity MSCI Communication Services Index ETF during the 3rd quarter valued at $808,000.

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.