Capital Planning LLC Expands Position in Fidelity MSCI Information Technology Index ETF

Capital Planning LLC Increases Stake in FTEC

Capital Planning LLC has boosted its investments in the Fidelity MSCI Information Technology Index ETF (NYSEARCA:FTEC), with an 8.5% increase in shares during the third quarter. According to recent filings with the SEC, this adjustment brought the firm's total ownership to 8,549 shares after the acquisition of an additional 671 shares in the quarter. This strategic move has heightened Capital Planning LLC's presence in the technology sector through FTEC, reflecting a value of approximately $1,051,000 in holdings at the quarter's end.

Institutional Investors Adjust FTEC Positions

A variety of other hedge funds and institutional investors have also recently modified their stakes in FTEC. Notably, Financial Gravity Asset Management Inc. initiated a new investment valued around $30,904,000 in the ETF, and Citigroup Inc. has increased its holdings by an impressive 20,300.0%. Fresh participants such as Meitav Investment House Ltd. and Tyler Stone Wealth Management have entered into positions valued at approximately $33,000 and $34,000, respectively. In an impressive move, Steward Partners Investment Advisory LLC grew its stake by 1,452.6%, further evidencing the ETF's attraction among savvy investors.

FTEC Market Performance

The ETF's shares opened at a price of $143.64, with the market witnessing a slight downturn of 0.5% on the reporting day. FTEC boasts a 52-week range between $91.74 and $144.72, indicating a resilient performance over the year. With a market capitalization of $8.01 billion, FTEC's price-to-earnings ratio stands at 22.84, coupled with a beta of 1.16. Investors also watch the ETF's moving averages, with a 50-day moving average price at $134.94 and a 200-day moving average around $130.50.

About Fidelity MSCI Information Technology Index ETF

FTEC is an exchange-traded fund predominantly invested in the equity of the information technology sector. It aims to mirror a market-cap-weighted index that spans the US IT sector at large. Fidelity launched FTEC on October 21, 2013, and oversees its management, aligning with its purpose to provide varied exposure to the IT industry.

Investment, Growth, Technology