Exchange Capital Management Inc. Reduces Position in Fidelity MSCI Information Technology Index ETF (NYSEARCA:FTEC)

Exchange Capital Management Inc. decreased its stake in shares of Fidelity MSCI Information Technology Index ETF (NYSEARCA:FTEC) by 1.8% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 44,366 shares of the company’s stock after selling 811 shares during the quarter. Fidelity MSCI Information Technology Index ETF makes up 1.1% of Exchange Capital Management Inc.’s portfolio, making the stock its 25th largest position. Exchange Capital Management Inc. owned 0.07% of Fidelity MSCI Information Technology Index ETF worth $6,914,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in FTEC. Lido Advisors LLC raised its holdings in shares of Fidelity MSCI Information Technology Index ETF by 9.3% in the 3rd quarter. Lido Advisors LLC now owns 1,652,603 shares of the company’s stock valued at $203,154,000 after purchasing an additional 141,104 shares in the last quarter. CHURCHILL MANAGEMENT Corp bought a new stake in shares of Fidelity MSCI Information Technology Index ETF in the 1st quarter valued at about $196,694,000. Envestnet Asset Management Inc. raised its holdings in shares of Fidelity MSCI Information Technology Index ETF by 16.6% in the 4th quarter. Envestnet Asset Management Inc. now owns 419,820 shares of the company’s stock valued at $60,303,000 after purchasing an additional 59,879 shares in the last quarter. International Assets Investment Management LLC bought a new stake in shares of Fidelity MSCI Information Technology Index ETF in the 4th quarter valued at about $33,181,000. Finally, Cambridge Investment Research Advisors Inc. raised its holdings in shares of Fidelity MSCI Information Technology Index ETF by 18.2% in the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 196,291 shares of the company’s stock valued at $28,195,000 after purchasing an additional 30,245 shares in the last quarter.

Fidelity MSCI Information Technology Index ETF Stock Up 0.5 %

Shares of NYSEARCA FTEC traded up $0.92 during trading hours on Tuesday, hitting $174.05. 132,070 shares of the stock were exchanged, compared to its average volume of 239,570. The company has a market cap of $10.84 billion, a PE ratio of 37.14 and a beta of 1.41. The firm has a fifty day moving average price of $160.96 and a 200-day moving average price of $153.73. Fidelity MSCI Information Technology Index ETF has a 12 month low of $118.39 and a 12 month high of $176.34.

About Fidelity MSCI Information Technology Index ETF

The Fidelity MSCI Information Technology Index ETF (FTEC) is an exchange-traded fund that mostly invests in information technology equity. The fund tracks a market-cap-weighted index of stocks in the broad US information technology sector. FTEC was launched on Oct 21, 2013 and is managed by Fidelity.