Fidelity MSCI Financials Index ETF (NYSEARCA:FNCL) Sets New 52-Week High – Here’s Why

Fidelity MSCI Financials Index ETF (NYSEARCA:FNCL) shares reached a new 52-week high during trading on Wednesday . The stock traded as high as $64.67 and last traded at $64.59, with a volume of 20403 shares traded. The stock had previously closed at $63.89.

Fidelity MSCI Financials Index ETF Stock Performance

The company has a market capitalization of $1.83 billion, a price-to-earnings ratio of 14.87 and a beta of 0.96. The firm has a 50-day simple moving average of $62.46 and a two-hundred day simple moving average of $59.91.

Hedge Funds Weigh In On Fidelity MSCI Financials Index ETF

Several institutional investors have recently modified their holdings of FNCL. Bay Colony Advisory Group Inc d b a Bay Colony Advisors lifted its stake in Fidelity MSCI Financials Index ETF by 2.6% in the second quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 8,328 shares of the company’s stock worth $483,000 after acquiring an additional 210 shares during the last quarter. Capital Investment Counsel Inc grew its stake in shares of Fidelity MSCI Financials Index ETF by 3.8% during the second quarter. Capital Investment Counsel Inc now owns 6,079 shares of the company’s stock worth $352,000 after purchasing an additional 221 shares in the last quarter. PFG Advisors increased its holdings in Fidelity MSCI Financials Index ETF by 0.8% in the second quarter. PFG Advisors now owns 27,950 shares of the company’s stock valued at $1,619,000 after buying an additional 223 shares during the last quarter. Pacific Sun Financial Corp increased its holdings in Fidelity MSCI Financials Index ETF by 4.4% in the third quarter. Pacific Sun Financial Corp now owns 5,818 shares of the company’s stock valued at $372,000 after buying an additional 246 shares during the last quarter. Finally, Sunbelt Securities Inc. raised its stake in Fidelity MSCI Financials Index ETF by 4.6% in the first quarter. Sunbelt Securities Inc. now owns 6,886 shares of the company’s stock valued at $409,000 after buying an additional 301 shares in the last quarter.

About Fidelity MSCI Financials Index ETF

The Fidelity MSCI Financials Index ETF (FNCL) is an exchange-traded fund that is based on the MSCI USA IMI Financials 25\u002F50 index, a market-cap-weighted index of US financial companies across the entire market-cap spectrum. FNCL was launched on Oct 21, 2013 and is managed by Fidelity.