Fidelity MSCI Materials Index ETF (NYSEARCA:FMAT) Shares Sold by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. lowered its holdings in Fidelity MSCI Materials Index ETF (NYSEARCA:FMAT) by 76.3% during the first quarter, HoldingsChannel reports. The fund owned 136,241 shares of the company’s stock after selling 437,509 shares during the period. Envestnet Asset Management Inc.’s holdings in Fidelity MSCI Materials Index ETF were worth $6,583,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. O Shaughnessy Asset Management LLC increased its stake in Fidelity MSCI Materials Index ETF by 99.1% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 687 shares of the company’s stock valued at $33,000 after purchasing an additional 342 shares during the last quarter. Sound Income Strategies LLC raised its position in shares of Fidelity MSCI Materials Index ETF by 60.9% during the 1st quarter. Sound Income Strategies LLC now owns 1,839 shares of the company’s stock worth $89,000 after purchasing an additional 696 shares during the period. CX Institutional acquired a new stake in shares of Fidelity MSCI Materials Index ETF during the 1st quarter worth approximately $112,000. Avondale Wealth Management acquired a new stake in shares of Fidelity MSCI Materials Index ETF during the 1st quarter worth approximately $121,000. Finally, Sweeney & Michel LLC bought a new position in Fidelity MSCI Materials Index ETF in the 1st quarter worth approximately $237,000.

Fidelity MSCI Materials Index ETF Price Performance

Shares of FMAT stock opened at $52.16 on Wednesday. The business has a 50 day simple moving average of $49.95 and a 200 day simple moving average of $49.05. The firm has a market capitalization of $427.71 million, a price-to-earnings ratio of 23.26 and a beta of 1.12. Fidelity MSCI Materials Index ETF has a 12-month low of $41.39 and a 12-month high of $55.28.

Fidelity MSCI Materials Index ETF Profile

The Fidelity MSCI Materials Index ETF (FMAT) is an exchange-traded fund that is based on the MSCI USA IMI Materials 25\u002F50 index, a market-cap-weighted index of stocks in the US basic materials sector across the entire market-cap spectrum. FMAT was launched on Oct 21, 2013 and is managed by Fidelity.