Fidelity MSCI Energy Index ETF (NYSEARCA:FENY) Sees Unusually-High Trading Volume – Should You Buy?

Fidelity MSCI Energy Index ETF (NYSEARCA:FENY) shares saw an uptick in trading volume on Wednesday . 1,600,192 shares changed hands during trading, an increase of 121% from the previous session’s volume of 724,283 shares.The stock last traded at $25.21 and had previously closed at $24.91.

Fidelity MSCI Energy Index ETF Price Performance

The stock has a fifty day simple moving average of $24.83 and a 200-day simple moving average of $24.78. The company has a market capitalization of $1.55 billion, a price-to-earnings ratio of 14.83 and a beta of 1.22.

Institutional Trading of Fidelity MSCI Energy Index ETF

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Meridian Wealth Management LLC purchased a new position in Fidelity MSCI Energy Index ETF during the third quarter worth approximately $378,000. D.A. Davidson & CO. lifted its position in shares of Fidelity MSCI Energy Index ETF by 2.9% during the 3rd quarter. D.A. Davidson & CO. now owns 44,780 shares of the company’s stock valued at $1,078,000 after buying an additional 1,252 shares in the last quarter. HighTower Advisors LLC grew its stake in Fidelity MSCI Energy Index ETF by 0.4% in the 3rd quarter. HighTower Advisors LLC now owns 882,644 shares of the company’s stock valued at $21,217,000 after acquiring an additional 3,703 shares during the period. Investmark Advisory Group LLC increased its holdings in Fidelity MSCI Energy Index ETF by 10.8% in the 3rd quarter. Investmark Advisory Group LLC now owns 9,845 shares of the company’s stock worth $237,000 after acquiring an additional 958 shares in the last quarter. Finally, IHT Wealth Management LLC acquired a new position in Fidelity MSCI Energy Index ETF during the third quarter worth $237,000.

About Fidelity MSCI Energy Index ETF

The Fidelity MSCI Energy Index ETF (FENY) is an exchange-traded fund that is based on the MSCI USA IMI Energy 25\u002F50 index, a market-cap-weighted index of US energy companies FENY was launched on Oct 24, 2013 and is managed by Fidelity.