Fidelity MSCI Communication Services Index ETF (NYSEARCA:FCOM) Sees Unusually-High Trading Volume – Still a Buy?

Fidelity MSCI Communication Services Index ETF (NYSEARCA:FCOM) shares saw unusually-high trading volume on Thursday . Approximately 65,536 shares were traded during trading, a decline of 30% from the previous session’s volume of 93,591 shares.The stock last traded at $61.93 and had previously closed at $61.96.

Fidelity MSCI Communication Services Index ETF Stock Down 1.0 %

The firm’s 50 day moving average price is $57.49 and its two-hundred day moving average price is $53.95. The firm has a market capitalization of $1.31 billion, a PE ratio of 26.44 and a beta of 1.22.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. New Millennium Group LLC acquired a new stake in shares of Fidelity MSCI Communication Services Index ETF in the second quarter valued at $28,000. Farther Finance Advisors LLC lifted its holdings in Fidelity MSCI Communication Services Index ETF by 8,688.2% in 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. Comerica Bank boosted its position in shares of Fidelity MSCI Communication Services Index ETF by 27.7% during the 1st quarter. Comerica Bank now owns 2,203 shares of the company’s stock valued at $109,000 after purchasing an additional 478 shares in the last quarter. Sanctuary Advisors LLC acquired a new position in shares of Fidelity MSCI Communication Services Index ETF in the 2nd quarter worth approximately $209,000. Finally, Smithfield Trust Co increased its holdings in shares of Fidelity MSCI Communication Services Index ETF by 13.2% in the third quarter. Smithfield Trust Co now owns 3,850 shares of the company’s stock valued at $212,000 after buying an additional 450 shares in the last quarter.

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.