Fidelity MSCI Information Technology Index ETF (NYSEARCA:FTEC) Sees Large Volume Increase – Should You Buy?

Shares of Fidelity MSCI Information Technology Index ETF (NYSEARCA:FTEC) saw unusually-high trading volume on Wednesday . Approximately 540,988 shares changed hands during mid-day trading, an increase of 66% from the previous session’s volume of 326,755 shares.The stock last traded at $191.95 and had previously closed at $188.17.

Fidelity MSCI Information Technology Index ETF Stock Up 2.0 %

The stock has a market cap of $11.96 billion, a PE ratio of 37.14 and a beta of 1.41. The stock’s fifty day moving average price is $186.61 and its 200 day moving average price is $176.98.

Institutional Trading of Fidelity MSCI Information Technology Index ETF

Institutional investors have recently made changes to their positions in the stock. Aptus Capital Advisors LLC lifted its position in shares of Fidelity MSCI Information Technology Index ETF by 67.3% during the 3rd quarter. Aptus Capital Advisors LLC now owns 169 shares of the company’s stock valued at $29,000 after buying an additional 68 shares in the last quarter. Capital Advisors Inc. OK lifted its holdings in Fidelity MSCI Information Technology Index ETF by 4.0% during the third quarter. Capital Advisors Inc. OK now owns 1,933 shares of the company’s stock valued at $337,000 after purchasing an additional 74 shares in the last quarter. Accelerate Investment Advisors LLC boosted its position in shares of Fidelity MSCI Information Technology Index ETF by 7.6% in the fourth quarter. Accelerate Investment Advisors LLC now owns 1,333 shares of the company’s stock worth $247,000 after purchasing an additional 94 shares during the period. Independent Wealth Network Inc. increased its stake in shares of Fidelity MSCI Information Technology Index ETF by 5.3% in the fourth quarter. Independent Wealth Network Inc. now owns 1,988 shares of the company’s stock worth $368,000 after purchasing an additional 100 shares in the last quarter. Finally, Pathway Financial Advisers LLC raised its position in shares of Fidelity MSCI Information Technology Index ETF by 11.5% during the 2nd quarter. Pathway Financial Advisers LLC now owns 1,028 shares of the company’s stock valued at $176,000 after purchasing an additional 106 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.