Fidelity NASDAQ Composite Index ETF (NASDAQ:ONEQ) Sees Strong Trading Volume – Time to Buy?

Fidelity NASDAQ Composite Index ETF (NASDAQ:ONEQ) shares saw unusually-strong trading volume on Monday . Approximately 338,007 shares were traded during mid-day trading, a decline of 11% from the previous session’s volume of 380,331 shares.The stock last traded at $104.48 and had previously closed at $102.04.

Fidelity NASDAQ Composite Index ETF Stock Down 1.5%

The stock has a market capitalization of $10.43 billion, a price-to-earnings ratio of 28.20 and a beta of 1.21. The company’s fifty day simple moving average is $100.17 and its 200 day simple moving average is $93.75.

Fidelity NASDAQ Composite Index ETF Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 24th. Shareholders of record on Friday, March 20th were issued a $0.111 dividend. This represents a $0.44 annualized dividend and a dividend yield of 0.4%. The ex-dividend date was Friday, March 20th.

Hedge Funds Weigh In On Fidelity NASDAQ Composite Index ETF

Several institutional investors and hedge funds have recently modified their holdings of the stock. Brighton Jones LLC grew its stake in shares of Fidelity NASDAQ Composite Index ETF by 72.6% in the fourth quarter. Brighton Jones LLC now owns 5,117 shares of the company’s stock valued at $389,000 after acquiring an additional 2,153 shares in the last quarter. AQR Capital Management LLC acquired a new position in shares of Fidelity NASDAQ Composite Index ETF in the first quarter valued at about $475,000. Integrated Wealth Concepts LLC grew its stake in shares of Fidelity NASDAQ Composite Index ETF by 11.5% in the first quarter. Integrated Wealth Concepts LLC now owns 5,072 shares of the company’s stock valued at $345,000 after acquiring an additional 525 shares in the last quarter. Jane Street Group LLC acquired a new position in shares of Fidelity NASDAQ Composite Index ETF in the first quarter valued at about $3,330,000. Finally, Marshall Wace LLP acquired a new position in shares of Fidelity NASDAQ Composite Index ETF in the second quarter valued at about $335,000.

Fidelity NASDAQ Composite Index ETF Company Profile

Fidelity Nasdaq Composite Index Tracking Stock (the Fund) is an exchange-traded fund . The Fund seeks to provide investment returns that closely correspond to the price and yield performance of the NASDAQ Composite Index (the Index). The Fund normally invests at least 80% of assets in common stocks included in the Index .The NASDAQ Composite Index is a market capitalization-weighted index that is designed to represent the performance of NASDAQ securities and includes over 3,000 stocks. The Fund uses statistical sampling techniques that take into account such factors as capitalization, industry exposures, dividend yield, price/earnings (P/E) ratio, price/book (P/B) ratio, and earnings growth to create a portfolio of securities listed in the index that have a similar investment profile to the entire the Index.