Fidelity Quality Factor ETF (NYSEARCA:FQAL) Stock Breaks Above 50 Day Moving Average – Here’s What Happened

Shares of Fidelity Quality Factor ETF (NYSEARCA:FQAL) passed above its 50-day moving average during trading on Monday. The stock has a 50-day moving average of $84.25 and traded as high as $84.59. Fidelity Quality Factor ETF shares last traded at $84.44, with a volume of 305,115 shares changing hands.

Fidelity Quality Factor ETF Trading Up 0.6%

The firm has a market cap of $1.44 billion, a price-to-earnings ratio of 25.46 and a beta of 0.94. The firm has a 50 day moving average price of $84.25 and a 200-day moving average price of $79.91.

Hedge Funds Weigh In On Fidelity Quality Factor ETF

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in FQAL. Assetmark Inc. lifted its holdings in shares of Fidelity Quality Factor ETF by 120.7% in the first quarter. Assetmark Inc. now owns 587 shares of the company’s stock valued at $43,000 after purchasing an additional 321 shares in the last quarter. Western Wealth Management LLC purchased a new position in shares of Fidelity Quality Factor ETF during the 1st quarter worth approximately $46,000. Royal Bank of Canada increased its stake in shares of Fidelity Quality Factor ETF by 11.7% during the 1st quarter. Royal Bank of Canada now owns 2,782 shares of the company’s stock worth $202,000 after purchasing an additional 292 shares in the last quarter. Bryant Woods Investment Advisors LLC purchased a new position in shares of Fidelity Quality Factor ETF during the 1st quarter worth approximately $277,000. Finally, Colony Family Offices LLC increased its stake in shares of Fidelity Quality Factor ETF by 6.2% during the 3rd quarter. Colony Family Offices LLC now owns 3,735 shares of the company’s stock worth $311,000 after purchasing an additional 217 shares in the last quarter.

Fidelity Quality Factor ETF Company Profile

The Fidelity Quality Factor ETF (FQAL) is an exchange-traded fund that is based on the Fidelity U.S. Quality Factor index. The fund tracks an index of fundamentally- selected large and mid- cap US companies that are weighted according to a tiered scheme. FQAL was launched on Sep 12, 2016 and is managed by Fidelity.