Fidelity MSCI Communication Services Index ETF (NYSEARCA:FCOM) Reaches New 1-Year High – Here’s Why

Fidelity MSCI Communication Services Index ETF (NYSEARCA:FCOM) shares reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $62.19 and last traded at $62.20, with a volume of 23708 shares trading hands. The stock had previously closed at $61.69.

Fidelity MSCI Communication Services Index ETF Trading Up 1.1 %

The company has a market cap of $1.34 billion, a price-to-earnings ratio of 26.44 and a beta of 1.22. The business’s 50 day moving average price is $59.75 and its 200-day moving average price is $55.82.

Hedge Funds Weigh In On Fidelity MSCI Communication Services Index ETF

A number of hedge funds have recently bought and sold shares of FCOM. Prairie Wealth Advisors Inc. raised its holdings in Fidelity MSCI Communication Services Index ETF by 8.6% in the 4th quarter. Prairie Wealth Advisors Inc. now owns 4,001 shares of the company’s stock valued at $235,000 after acquiring an additional 316 shares in the last quarter. Q3 Asset Management acquired a new position in Fidelity MSCI Communication Services Index ETF in the fourth quarter valued at about $11,358,000. Yoder Wealth Management Inc. lifted its position in Fidelity MSCI Communication Services Index ETF by 11.3% during the fourth quarter. Yoder Wealth Management Inc. now owns 66,884 shares of the company’s stock worth $3,926,000 after purchasing an additional 6,778 shares during the period. Destiny Wealth Partners LLC bought a new stake in Fidelity MSCI Communication Services Index ETF during the fourth quarter worth about $10,501,000. Finally, Southern Capital Advisors LLC grew its stake in Fidelity MSCI Communication Services Index ETF by 2.3% during the fourth quarter. Southern Capital Advisors LLC now owns 79,709 shares of the company’s stock worth $4,679,000 after buying an additional 1,809 shares in 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.