Fidelity MSCI Materials Index ETF (NYSEARCA:FMAT) Sees Strong Trading Volume – Should You Buy?

Fidelity MSCI Materials Index ETF (NYSEARCA:FMAT) saw unusually-strong trading volume on Tuesday . Approximately 1,314,142 shares changed hands during mid-day trading, an increase of 2,527% from the previous session’s volume of 50,031 shares.The stock last traded at $48.31 and had previously closed at $48.32.

Fidelity MSCI Materials Index ETF Price Performance

The stock’s 50 day simple moving average is $49.96 and its two-hundred day simple moving average is $51.40. The firm has a market cap of $521.57 million, a P/E ratio of 24.29 and a beta of 1.13.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the stock. O Shaughnessy Asset Management LLC raised its holdings in Fidelity MSCI Materials Index ETF by 99.1% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 687 shares of the company’s stock worth $33,000 after purchasing an additional 342 shares during the period. Decker Retirement Planning Inc. purchased a new position in shares of Fidelity MSCI Materials Index ETF during the 4th quarter valued at about $33,000. Global Retirement Partners LLC grew its stake in shares of Fidelity MSCI Materials Index ETF by 497.8% during the 4th quarter. Global Retirement Partners LLC now owns 813 shares of the company’s stock valued at $39,000 after acquiring an additional 677 shares during the period. Sound Income Strategies LLC grew its stake in shares of Fidelity MSCI Materials Index ETF by 360.9% during the 4th quarter. Sound Income Strategies LLC now owns 1,143 shares of the company’s stock valued at $55,000 after acquiring an additional 895 shares during the period. Finally, Cullen Frost Bankers Inc. raised its stake in Fidelity MSCI Materials Index ETF by 111.3% during the 4th quarter. Cullen Frost Bankers Inc. now owns 1,473 shares of the company’s stock worth $71,000 after acquiring an additional 776 shares during the period.

Fidelity MSCI Materials Index ETF Company 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.