Fidelity MSCI Communication Services Index ETF (NYSEARCA:FCOM) Sets New 12-Month High – What’s Next?

Fidelity MSCI Communication Services Index ETF (NYSEARCA:FCOM) hit a new 52-week high during trading on Tuesday . The stock traded as high as $59.14 and last traded at $59.14, with a volume of 3362 shares traded. The stock had previously closed at $58.84.

Fidelity MSCI Communication Services Index ETF Stock Performance

The firm has a market cap of $1.26 billion, a PE ratio of 26.44 and a beta of 1.22. The stock’s fifty day moving average price is $54.74 and its 200-day moving average price is $52.49.

Institutional Investors Weigh In On Fidelity MSCI Communication Services Index ETF

Institutional investors and hedge funds have recently modified their holdings of the company. Commonwealth Equity Services LLC raised its position in Fidelity MSCI Communication Services Index ETF by 45.3% during the second quarter. Commonwealth Equity Services LLC now owns 371,542 shares of the company’s stock worth $19,406,000 after acquiring an additional 115,797 shares during the last quarter. AGF Management Ltd. lifted its stake in Fidelity MSCI Communication Services Index ETF by 18.4% in the 2nd quarter. AGF Management Ltd. now owns 300,084 shares of the company’s stock valued at $15,673,000 after buying an additional 46,580 shares in the last quarter. Crumly & Associates Inc. grew its holdings in Fidelity MSCI Communication Services Index ETF by 2.3% during the 2nd quarter. Crumly & Associates Inc. now owns 122,091 shares of the company’s stock valued at $6,377,000 after buying an additional 2,722 shares during the last quarter. AE Wealth Management LLC grew its holdings in Fidelity MSCI Communication Services Index ETF by 10.5% during the 2nd quarter. AE Wealth Management LLC now owns 85,524 shares of the company’s stock valued at $4,467,000 after buying an additional 8,146 shares during the last quarter. Finally, Southern Capital Advisors LLC raised its holdings in shares of Fidelity MSCI Communication Services Index ETF by 6.9% in the third quarter. Southern Capital Advisors LLC now owns 77,900 shares of the company’s stock worth $4,291,000 after acquiring an additional 5,015 shares during 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.