Fidelity MSCI Communication Services Index ETF (NYSEARCA:FCOM) Reaches New 52-Week High – Time to Buy?
by Michael Walen · The Markets DailyFidelity MSCI Communication Services Index ETF (NYSEARCA:FCOM – Get Free Report)’s stock price reached a new 52-week high on Monday . The stock traded as high as $55.73 and last traded at $55.65, with a volume of 7783 shares trading hands. The stock had previously closed at $55.32.
Fidelity MSCI Communication Services Index ETF Price Performance
The stock has a market cap of $1.19 billion, a price-to-earnings ratio of 26.44 and a beta of 1.22. The firm’s fifty day moving average price is $52.83 and its two-hundred day moving average price is $51.45.
Hedge Funds Weigh In On Fidelity MSCI Communication Services Index ETF
A number of institutional investors have recently modified their holdings of the company. New Millennium Group LLC bought a new stake in Fidelity MSCI Communication Services Index ETF during the 2nd quarter worth approximately $28,000. Pathway Financial Advisers LLC purchased a new stake in Fidelity MSCI Communication Services Index ETF in the 1st quarter valued at $34,000. American National Bank raised its position in Fidelity MSCI Communication Services Index ETF by 57.1% in the 1st quarter. American National Bank now owns 1,277 shares of the company’s stock valued at $63,000 after buying an additional 464 shares during the last quarter. Comerica Bank lifted its stake in Fidelity MSCI Communication Services Index ETF by 27.7% during the 1st quarter. Comerica Bank now owns 2,203 shares of the company’s stock valued at $109,000 after acquiring an additional 478 shares in the last quarter. Finally, Sunbelt Securities Inc. boosted its holdings in Fidelity MSCI Communication Services Index ETF by 25.6% during the 1st quarter. Sunbelt Securities Inc. now owns 2,349 shares of the company’s stock worth $116,000 after acquiring an additional 479 shares during 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.
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