Fidelity MSCI Communication Services Index ETF (NYSEARCA:FCOM) Sees Strong Trading Volume

Fidelity MSCI Communication Services Index ETF (NYSEARCA:FCOM) shares saw unusually-high trading volume on Wednesday . Approximately 310,350 shares were traded during mid-day trading, an increase of 224% from the previous session’s volume of 95,871 shares.The stock last traded at $50.85 and had previously closed at $50.81.

Fidelity MSCI Communication Services Index ETF Price Performance

The stock has a market capitalization of $1.10 billion, a P/E ratio of 26.44 and a beta of 1.22. The business’s 50 day simple moving average is $51.82 and its 200-day simple moving average is $50.54.

Hedge Funds Weigh In On Fidelity MSCI Communication Services Index ETF

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Apollon Wealth Management LLC bought a new stake in Fidelity MSCI Communication Services Index ETF in the 4th quarter valued at $262,000. Advisory Services Network LLC lifted its position in Fidelity MSCI Communication Services Index ETF by 115.7% in the 4th quarter. Advisory Services Network LLC now owns 25,460 shares of the company’s stock valued at $1,134,000 after acquiring an additional 13,659 shares in the last quarter. Sunbelt Securities Inc. lifted its position in Fidelity MSCI Communication Services Index ETF by 25.6% in the 1st quarter. Sunbelt Securities Inc. now owns 2,349 shares of the company’s stock valued at $116,000 after acquiring an additional 479 shares in the last quarter. Lynch & Associates IN lifted its position in Fidelity MSCI Communication Services Index ETF by 2.7% in the 2nd quarter. Lynch & Associates IN now owns 23,552 shares of the company’s stock valued at $1,230,000 after acquiring an additional 625 shares in the last quarter. Finally, CX Institutional lifted its position in Fidelity MSCI Communication Services Index ETF by 15.2% in the 2nd quarter. CX Institutional now owns 13,446 shares of the company’s stock valued at $702,000 after acquiring an additional 1,777 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.