Fidelity MSCI Information Technology Index ETF Holdings Trimmed by Avantax Advisory Services Inc.
Avantax Advisory Services Inc. has recently made significant changes to its holdings in the Fidelity MSCI Information Technology Index ETF (NYSEARCA:FTEC). According to its most recent 13F filing with the SEC, the firm has trimmed its holdings in the ETF by 27.6% during the first quarter, selling 1,809 shares and leaving them with 4,742 shares worth $739,000.
This move by Avantax Advisory Services Inc. is part of a larger trend among hedge funds and institutional investors adjusting their positions in FTEC. B. Riley Wealth Advisors Inc., Citigroup Inc., Dynamic Advisor Solutions LLC, CX Institutional, and Mutual Advisors LLC have all made changes to their holdings in the ETF in recent quarters.
Fidelity MSCI Information Technology Index ETF has shown strong stock performance, with shares opening at $170.35 on Friday. The ETF has a fifty-two week low of $118.39 and a high of $181.11, with a market cap of $10.61 billion and a PE ratio of 37.14.
FTEC is an exchange-traded fund that primarily invests in information technology equity, tracking a market-cap-weighted index of stocks in the US information technology sector. Managed by Fidelity, the ETF was launched on Oct 21, 2013.
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