Fidelity MSCI Materials Index ETF (NYSEARCA:FMAT) Shares Down 0.8% – Time to Sell?

Shares of Fidelity MSCI Materials Index ETF (NYSEARCA:FMAT) were down 0.8% on Tuesday . The stock traded as low as $59.71 and last traded at $59.76. 36,804 shares were traded during mid-day trading, a decline of 33% from the average session volume of 55,322 shares. The stock had previously closed at $60.24.

Fidelity MSCI Materials Index ETF Trading Down 0.8%

The business’s fifty day moving average price is $59.21 and its 200 day moving average price is $59.13. The firm has a market capitalization of $603.58 million, a price-to-earnings ratio of 23.26 and a beta of 0.97.

Hedge Funds Weigh In On Fidelity MSCI Materials Index ETF

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Mach 1 Financial Group LLC acquired a new stake in shares of Fidelity MSCI Materials Index ETF in the 4th quarter worth $1,609,000. Northwestern Mutual Wealth Management Co. increased its stake in shares of Fidelity MSCI Materials Index ETF by 23,517.9% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 334,902 shares of the company’s stock worth $17,787,000 after acquiring an additional 333,484 shares during the period. Kovitz Investment Group Partners LLC raised its holdings in Fidelity MSCI Materials Index ETF by 83.4% during the fourth quarter. Kovitz Investment Group Partners LLC now owns 96,473 shares of the company’s stock worth $5,124,000 after purchasing an additional 43,872 shares in the last quarter. Bank of New York Mellon Corp acquired a new stake in Fidelity MSCI Materials Index ETF in the first quarter valued at about $2,866,000. Finally, Lido Advisors LLC lifted its position in Fidelity MSCI Materials Index ETF by 4.9% in the first quarter. Lido Advisors LLC now owns 654,663 shares of the company’s stock valued at $37,735,000 after purchasing an additional 30,472 shares during the period.

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.