Fidelity Blue Chip Growth ETF (BATS:FBCG) Stock Breaks Below 200-Day Moving Average – Here’s Why

Fidelity Blue Chip Growth ETF (BATS:FBCG)’s share price crossed below its 200-day moving average during trading on Friday. The stock has a 200-day moving average of $58.64 and traded as low as $57.76. Fidelity Blue Chip Growth ETF shares last traded at $58.40, with a volume of 1,143,631 shares changing hands.

Fidelity Blue Chip Growth ETF Price Performance

The business’s 50-day moving average price is $62.06 and its two-hundred day moving average price is $58.64. The firm has a market cap of $5.30 billion, a price-to-earnings ratio of 29.62 and a beta of 1.32.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. KFA Private Wealth Group LLC bought a new position in Fidelity Blue Chip Growth ETF during the third quarter worth $67,022,000. BG Investment Services LLC bought a new stake in Fidelity Blue Chip Growth ETF during the third quarter valued at $29,725,000. Summit Wealth Group LLC Co. increased its stake in Fidelity Blue Chip Growth ETF by 375.0% during the third quarter. Summit Wealth Group LLC Co. now owns 428,557 shares of the company’s stock valued at $27,089,000 after purchasing an additional 338,341 shares during the last quarter. Copper Harbor Investment Advisors LLC bought a new stake in Fidelity Blue Chip Growth ETF during the third quarter valued at $19,625,000. Finally, Cetera Investment Advisers raised its holdings in shares of Fidelity Blue Chip Growth ETF by 26.4% during the first quarter. Cetera Investment Advisers now owns 1,431,942 shares of the company’s stock worth $71,769,000 after purchasing an additional 298,784 shares during the period.

About Fidelity Blue Chip Growth ETF

The Fidelity Blue Chip Growth ETF (FBCG) is an exchange-traded fund that is based on the Russell 1000 Growth index. The fund is an actively-managed, non-transparent fund of fundamentally-selected global growth stocks. The fund utilizes the Fidelity non-transparent model. FBCG was launched on Jun 3, 2020 and is managed by Fidelity.