Advisors Capital Management LLC Raises Position in Fidelity MSCI Information Technology Index ETF (NYSEARCA:FTEC)

Advisors Capital Management LLC boosted its holdings in shares of Fidelity MSCI Information Technology Index ETF (NYSEARCA:FTEC) by 42.8% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 2,551 shares of the company’s stock after buying an additional 764 shares during the period. Advisors Capital Management LLC’s holdings in Fidelity MSCI Information Technology Index ETF were worth $472,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in FTEC. Whittier Trust Co. of Nevada Inc. bought a new stake in shares of Fidelity MSCI Information Technology Index ETF during the 4th quarter valued at about $26,000. Fifth Third Bancorp bought a new stake in Fidelity MSCI Information Technology Index ETF during the fourth quarter valued at approximately $37,000. Promus Capital LLC purchased a new position in Fidelity MSCI Information Technology Index ETF in the 4th quarter worth approximately $41,000. Mainstream Capital Management LLC bought a new position in shares of Fidelity MSCI Information Technology Index ETF in the 4th quarter worth $44,000. Finally, Newbridge Financial Services Group Inc. purchased a new stake in shares of Fidelity MSCI Information Technology Index ETF during the 4th quarter valued at $48,000.

Fidelity MSCI Information Technology Index ETF Stock Performance

Shares of NYSEARCA:FTEC opened at $156.42 on Wednesday. The firm has a market capitalization of $11.04 billion, a PE ratio of 32.28 and a beta of 1.23. Fidelity MSCI Information Technology Index ETF has a 52-week low of $134.11 and a 52-week high of $193.06. The firm has a fifty day moving average of $169.41 and a 200 day moving average of $178.69.

Fidelity MSCI Information Technology Index ETF Company Profile

The Fidelity MSCI Information Technology Index ETF (FTEC) is an exchange-traded fund that mostly invests in information technology equity. The fund tracks a market-cap-weighted index of stocks in the broad US information technology sector. FTEC was launched on Oct 21, 2013 and is managed by Fidelity.