LPL Financial Increases Stake in Fidelity MSCI Industrials ETF by Over 20%

LPL Financial LLC has expanded its investment in the Fidelity MSCI Industrials Index ETF (NYSEARCA: FIDU) by 20.4% during the first quarter of 2023. According to a recent filing with the Securities and Exchange Commission, the firm increased its holdings to 178,344 shares, acquiring an additional 30,176 shares in the process. As of the latest filing, LPL Financial holds approximately 0.98% of the ETF, valued at about $12.2 million.

The increased stake is part of a broader trend among institutional investors making strategic adjustments to their positions in the Fidelity MSCI Industrials Index ETF. Versant Capital Management Inc has newly invested in the ETF, purchasing shares valued at $30,000 during the same quarter. Additionally, CIBC Private Wealth Group LLC significantly boosted its position by 1,075.0% in the fourth quarter, bringing its total to 470 shares, worth approximately $33,000 after acquiring an additional 430 shares.

Further investments came from CX Institutional, which purchased a new stake valued at $45,000, and Elite Financial Inc., which also entered the market with a stake worth $54,000. Meanwhile, Integrated Wealth Concepts LLC increased its position by 13.7% in the fourth quarter, now owning 3,325 shares worth $234,000 following an acquisition of 401 shares.

Market Performance and Overview

On March 31, 2023, shares of Fidelity MSCI Industrials Index ETF opened at $79.72. The stock has shown a 0.1% decrease in trading. The ETF has a fifty-day moving average price of $77.84 and a 200-day moving average price of $72.99. Over the past year, the ETF has recorded a low of $59.16 and a high of $81.93. With a market capitalization of approximately $1.46 billion, the ETF has a price-to-earnings ratio of 24.65 and a beta of 1.13, indicating slightly higher volatility compared to the broader market.

The Fidelity MSCI Industrials Index ETF, launched on October 21, 2013, is designed to track the performance of the MSCI USA IMI Industrials 25/25 Index. This index comprises a market-cap-weighted selection of stocks within the expansive US industrials sector, providing investors with exposure to a diverse range of companies in this crucial economic segment.

As institutional interest in the ETF grows, this could signal increased confidence in the industrial sector’s performance moving forward. Investors are closely monitoring these developments to gauge potential impacts on the broader market.