Fidelity MSCI Materials Index ETF (NYSEARCA:FMAT) Sets New 12-Month High – Still a Buy?

Fidelity MSCI Materials Index ETF (NYSEARCA:FMAT) reached a new 52-week high during trading on Wednesday . The company traded as high as $58.11 and last traded at $58.2460, with a volume of 35718 shares. The stock had previously closed at $57.22.

Fidelity MSCI Materials Index ETF Stock Performance

The stock has a market cap of $501.29 million, a PE ratio of 23.26 and a beta of 1.07. The firm has a 50-day moving average price of $53.14 and a 200-day moving average price of $52.28.

Institutional Investors Weigh In On Fidelity MSCI Materials Index ETF

A number of institutional investors have recently made changes to their positions in FMAT. Jones Financial Companies Lllp raised its holdings in Fidelity MSCI Materials Index ETF by 1,778.8% in the 1st quarter. Jones Financial Companies Lllp now owns 2,480 shares of the company’s stock worth $124,000 after acquiring an additional 2,348 shares during the last quarter. Goldman Sachs Group Inc. boosted its position in shares of Fidelity MSCI Materials Index ETF by 1.2% during the first quarter. Goldman Sachs Group Inc. now owns 50,589 shares of the company’s stock valued at $2,444,000 after buying an additional 589 shares during the last quarter. Lynch & Associates IN increased its holdings in Fidelity MSCI Materials Index ETF by 4.5% in the 2nd quarter. Lynch & Associates IN now owns 10,278 shares of the company’s stock worth $513,000 after buying an additional 439 shares in the last quarter. Centerline Wealth Advisors LLC raised its position in Fidelity MSCI Materials Index ETF by 4.1% in the 2nd quarter. Centerline Wealth Advisors LLC now owns 174,962 shares of the company’s stock worth $8,725,000 after buying an additional 6,924 shares during the last quarter. Finally, Vicus Capital bought a new position in Fidelity MSCI Materials Index ETF during the 2nd quarter valued at about $250,000.

About Fidelity MSCI Materials Index ETF

The Fidelity MSCI Materials Index ETF (FMAT) is an exchange-traded fund that is based on the MSCI USA IMI Materials 25\u002F50 index, a market-cap-weighted index of stocks in the US basic materials sector across the entire market-cap spectrum. FMAT was launched on Oct 21, 2013 and is managed by Fidelity.