Fidelity Total Bond ETF (NYSEARCA:FBND) Share Price Crosses Below 50 Day Moving Average – Here’s Why

Fidelity Total Bond ETF (NYSEARCA:FBND) shares passed below its fifty day moving average during trading on Thursday. The stock has a fifty day moving average of $43.95 and traded as low as $43.72. Fidelity Total Bond ETF shares last traded at $43.72, with a volume of 5,862,306 shares changing hands.

Fidelity Total Bond ETF Trading Down 0.6%

The company’s 50-day simple moving average is $43.95 and its 200 day simple moving average is $45.18. The stock has a market cap of $28.19 billion, a P/E ratio of 8.94 and a beta of 0.28.

Institutional Investors Weigh In On Fidelity Total Bond ETF

Hedge funds and other institutional investors have recently bought and sold shares of the business. Bank of America Corp DE raised its holdings in shares of Fidelity Total Bond ETF by 6.3% in the 1st quarter. Bank of America Corp DE now owns 14,706,838 shares of the company’s stock valued at $670,926,000 after acquiring an additional 871,672 shares in the last quarter. Envestnet Asset Management Inc. grew its holdings in shares of Fidelity Total Bond ETF by 7.9% during the second quarter. Envestnet Asset Management Inc. now owns 8,059,617 shares of the company’s stock worth $366,632,000 after purchasing an additional 587,351 shares in the last quarter. Cetera Investment Advisers increased its position in shares of Fidelity Total Bond ETF by 15.9% in the first quarter. Cetera Investment Advisers now owns 6,801,133 shares of the company’s stock worth $310,268,000 after purchasing an additional 930,834 shares during the last quarter. Sax Wealth Advisors LLC increased its position in shares of Fidelity Total Bond ETF by 49.8% in the third quarter. Sax Wealth Advisors LLC now owns 6,727,943 shares of the company’s stock worth $291,320,000 after purchasing an additional 2,236,473 shares during the last quarter. Finally, Legacy Wealth Management LLC increased its position in shares of Fidelity Total Bond ETF by 57.0% in the second quarter. Legacy Wealth Management LLC now owns 5,495,432 shares of the company’s stock worth $249,987,000 after purchasing an additional 1,995,732 shares during the last quarter.

About Fidelity Total Bond ETF

The Fidelity Total Bond ETF (FBND) is an exchange-traded fund that is based on the Bloomberg U.S. Universal Bond index. The fund is an actively managed broad market bond fund that uses the Barclays US Universal Bond Index to guide its sector allocation and duration exposure. FBND was launched on Oct 6, 2014 and is managed by Fidelity.