Fidelity MSCI Communication Services Index ETF (NYSEARCA:FCOM) Shares Gap Down to $49.10

Posted by Tyrone Williams on Apr 25th, 2024

Fidelity MSCI Communication Services Index ETF (NYSEARCA:FCOM – Get Free Report)’s share price gapped down before the market opened on Thursday . The stock had previously closed at $49.10, but opened at $46.50. Fidelity MSCI Communication Services Index ETF shares last traded at $47.10, with a volume of 53,298 shares traded.

Fidelity MSCI Communication Services Index ETF Stock Down 3.5 %

The stock has a market capitalization of $1.02 billion, a price-to-earnings ratio of 27.52 and a beta of 1.22. The company’s 50-day simple moving average is $48.87 and its 200 day simple moving average is $45.35.

Institutional Investors Weigh In On Fidelity MSCI Communication Services Index ETF

Hedge funds have recently made changes to their positions in the stock. Sunbelt Securities Inc. lifted its stake in shares of Fidelity MSCI Communication Services Index ETF by 47.0% in the third quarter. Sunbelt Securities Inc. now owns 1,868 shares of the company’s stock valued at $74,000 after buying an additional 597 shares during the period. Envestnet Asset Management Inc. raised its position in Fidelity MSCI Communication Services Index ETF by 15.8% in the third quarter. Envestnet Asset Management Inc. now owns 348,423 shares of the company’s stock worth $13,836,000 after purchasing an additional 47,543 shares in the last quarter. Lido Advisors LLC raised its position in Fidelity MSCI Communication Services Index ETF by 10.1% in the third quarter. Lido Advisors LLC now owns 1,544,241 shares of the company’s stock worth $61,322,000 after purchasing an additional 142,240 shares in the last quarter. Gimbal Financial acquired a new position in Fidelity MSCI Communication Services Index ETF in the fourth quarter worth about $1,917,000. Finally, Smith Salley & Associates raised its position in Fidelity MSCI Communication Services Index ETF by 15.4% in the third quarter. Smith Salley & Associates now owns 58,972 shares of the company’s stock worth $2,342,000 after purchasing an additional 7,868 shares in the last quarter.

About Fidelity MSCI Communication Services Index ETF

(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.