Fidelity MSCI Communication Services Index ETF (NYSEARCA:FCOM) Sees Strong Trading Volume – Here’s Why

Fidelity MSCI Communication Services Index ETF (NYSEARCA:FCOM) shares saw unusually-high trading volume on Monday . Approximately 311,948 shares were traded during mid-day trading, an increase of 220% from the previous session’s volume of 97,608 shares.The stock last traded at $59.73 and had previously closed at $59.30.

Fidelity MSCI Communication Services Index ETF Stock Up 1.0 %

The firm has a fifty day simple moving average of $58.29 and a 200-day simple moving average of $54.52. The company has a market cap of $1.30 billion, a PE ratio of 26.44 and a beta of 1.22.

Hedge Funds Weigh In On Fidelity MSCI Communication Services Index ETF

Several large investors have recently added to or reduced their stakes in the business. Farther Finance Advisors LLC increased its stake in shares of Fidelity MSCI Communication Services Index ETF by 8,688.2% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,494 shares of the company’s stock valued at $82,000 after acquiring an additional 1,477 shares during the last quarter. Smithfield Trust Co increased its position in Fidelity MSCI Communication Services Index ETF by 13.2% during the third quarter. Smithfield Trust Co now owns 3,850 shares of the company’s stock worth $212,000 after purchasing an additional 450 shares during the last quarter. Capital Square LLC purchased a new position in Fidelity MSCI Communication Services Index ETF during the third quarter worth approximately $220,000. Sanctuary Advisors LLC acquired a new position in shares of Fidelity MSCI Communication Services Index ETF in the 2nd quarter valued at $209,000. Finally, American National Bank & Trust grew its stake in shares of Fidelity MSCI Communication Services Index ETF by 10.7% during the 3rd quarter. American National Bank & Trust now owns 5,197 shares of the company’s stock valued at $286,000 after buying an additional 501 shares during the period.

Fidelity MSCI Communication Services Index ETF Company Profile

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.