Mechanics Bank Trust Department Trims Stock Holdings in Fidelity MSCI Communication Services Index ETF (NYSEARCA:FCOM)

Mechanics Bank Trust Department decreased its stake in Fidelity MSCI Communication Services Index ETF (NYSEARCA:FCOM) by 15.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 39,480 shares of the company’s stock after selling 7,378 shares during the quarter. Mechanics Bank Trust Department owned approximately 0.25% of Fidelity MSCI Communication Services Index ETF worth $1,589,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Atlas Private Wealth Management grew its position in shares of Fidelity MSCI Communication Services Index ETF by 3.5% during the first quarter. Atlas Private Wealth Management now owns 13,304 shares of the company’s stock worth $487,000 after purchasing an additional 446 shares in the last quarter. Lynch & Associates IN grew its position in shares of Fidelity MSCI Communication Services Index ETF by 3.2% during the first quarter. Lynch & Associates IN now owns 16,852 shares of the company’s stock worth $617,000 after purchasing an additional 528 shares in the last quarter. Vista Investment Management grew its position in shares of Fidelity MSCI Communication Services Index ETF by 10.3% during the first quarter. Vista Investment Management now owns 7,588 shares of the company’s stock worth $345,000 after purchasing an additional 710 shares in the last quarter. Snowden Capital Advisors LLC grew its position in shares of Fidelity MSCI Communication Services Index ETF by 5.1% during the first quarter. Snowden Capital Advisors LLC now owns 17,215 shares of the company’s stock worth $630,000 after purchasing an additional 837 shares in the last quarter. Finally, Graham Capital Wealth Management LLC purchased a new stake in shares of Fidelity MSCI Communication Services Index ETF during the first quarter worth about $319,914,000.

Fidelity MSCI Communication Services Index ETF Trading Down 1.3 %

NYSEARCA:FCOM opened at $40.83 on Friday. Fidelity MSCI Communication Services Index ETF has a 12-month low of $29.70 and a 12-month high of $42.82. The stock has a 50-day moving average price of $41.11 and a 200 day moving average price of $38.67. The stock has a market capitalization of $759.44 million, a P/E ratio of 12.69 and a beta of 1.02.

About Fidelity MSCI Communication Services Index ETF

The Fidelity MSCI Communication Services Index ETF (FCOM) is an exchange-traded fund that mostly invests in communication services equity. The fund tracks a market-cap-weighted index of stocks in the US communication services sector. FCOM was launched on Oct 21, 2013 and is managed by Fidelity.