Fidelity MSCI Communication Services Index ETF (NYSEARCA:FCOM) Reaches New 52-Week High – Time to Buy?

by · The Markets Daily

Fidelity MSCI Communication Services Index ETF (NYSEARCA:FCOM – Get Free Report)’s stock price reached a new 52-week high on Monday . The stock traded as high as $55.73 and last traded at $55.65, with a volume of 7783 shares trading hands. The stock had previously closed at $55.32.

Fidelity MSCI Communication Services Index ETF Price Performance

The stock has a market cap of $1.19 billion, a price-to-earnings ratio of 26.44 and a beta of 1.22. The firm’s fifty day moving average price is $52.83 and its two-hundred day moving average price is $51.45.

Hedge Funds Weigh In On Fidelity MSCI Communication Services Index ETF

A number of institutional investors have recently modified their holdings of the company. New Millennium Group LLC bought a new stake in Fidelity MSCI Communication Services Index ETF during the 2nd quarter worth approximately $28,000. Pathway Financial Advisers LLC purchased a new stake in Fidelity MSCI Communication Services Index ETF in the 1st quarter valued at $34,000. American National Bank raised its position in Fidelity MSCI Communication Services Index ETF by 57.1% in the 1st quarter. American National Bank now owns 1,277 shares of the company’s stock valued at $63,000 after buying an additional 464 shares during the last quarter. Comerica Bank lifted its stake in 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 acquiring an additional 478 shares in the last quarter. Finally, Sunbelt Securities Inc. boosted its holdings in Fidelity MSCI Communication Services Index ETF by 25.6% during the 1st quarter. Sunbelt Securities Inc. now owns 2,349 shares of the company’s stock worth $116,000 after acquiring an additional 479 shares during the last quarter.

Fidelity MSCI Communication Services Index ETF Company Profile

(Get Free Report)

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.

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