Fidelity MSCI Materials Index ETF (NYSEARCA:FMAT) Sees Unusually-High Trading Volume – Here’s Why

Shares of Fidelity MSCI Materials Index ETF (NYSEARCA:FMAT) saw strong trading volume on Tuesday . 38,158 shares traded hands during mid-day trading, an increase of 3% from the previous session’s volume of 37,103 shares.The stock last traded at $50.58 and had previously closed at $50.79.

Fidelity MSCI Materials Index ETF Price Performance

The company has a market capitalization of $493.69 million, a price-to-earnings ratio of 15.76 and a beta of 0.92. The business has a fifty day moving average price of $53.36 and a 200 day moving average price of $51.95.

Hedge Funds Weigh In On Fidelity MSCI Materials Index ETF

Several large investors have recently added to or reduced their stakes in FMAT. CWM LLC increased its stake in Fidelity MSCI Materials Index ETF by 11,820.0% in the third quarter. CWM LLC now owns 1,192 shares of the company’s stock valued at $65,000 after acquiring an additional 1,182 shares during the period. Freedom Investment Management Inc. acquired a new position in shares of Fidelity MSCI Materials Index ETF in the 3rd quarter worth approximately $208,000. Kestra Investment Management LLC bought a new position in shares of Fidelity MSCI Materials Index ETF during the 3rd quarter worth approximately $225,000. Centennial Wealth Advisory LLC acquired a new position in Fidelity MSCI Materials Index ETF during the third quarter worth $237,000. Finally, Flow Traders U.S. LLC acquired a new stake in shares of Fidelity MSCI Materials Index ETF in the 3rd quarter valued at $249,000.

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.