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

Fidelity MSCI Communication Services Index ETF (NYSEARCA:FCOM) shares saw strong trading volume on Thursday . 65,536 shares were traded during trading, a decline of 30% from the previous session’s volume of 93,591 shares.The stock last traded at $61.93 and had previously closed at $61.96.

Fidelity MSCI Communication Services Index ETF Stock Down 1.0 %

The stock’s fifty day moving average is $57.49 and its two-hundred day moving average is $53.95. The firm has a market capitalization of $1.31 billion, a price-to-earnings ratio of 26.44 and a beta of 1.22.

Hedge Funds Weigh In On Fidelity MSCI Communication Services Index ETF

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in FCOM. MML Investors Services LLC grew its stake in shares of Fidelity MSCI Communication Services Index ETF by 4.5% in the third quarter. MML Investors Services LLC now owns 9,809 shares of the company’s stock valued at $540,000 after acquiring an additional 421 shares in the last quarter. Orion Portfolio Solutions LLC increased its position in shares of Fidelity MSCI Communication Services Index ETF by 1.0% in the third quarter. Orion Portfolio Solutions LLC now owns 47,832 shares of the company’s stock worth $2,635,000 after purchasing an additional 465 shares during the period. Capital Square LLC acquired a new position in Fidelity MSCI Communication Services Index ETF in the third quarter valued at about $220,000. Meridian Wealth Management LLC bought a new stake in Fidelity MSCI Communication Services Index ETF during the third quarter worth about $808,000. Finally, Smithfield Trust Co grew its stake in Fidelity MSCI Communication Services Index ETF by 13.2% during the third quarter. Smithfield Trust Co now owns 3,850 shares of the company’s stock worth $212,000 after buying an additional 450 shares in the last quarter.

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.