Fidelity Enhanced Mid Cap ETF (NYSEARCA:FMDE) Sees Large Volume Increase – Still a Buy?

Fidelity Enhanced Mid Cap ETF (NYSEARCA:FMDE) shares saw unusually-strong trading volume on Tuesday . Approximately 2,601,866 shares traded hands during trading, an increase of 173% from the previous session’s volume of 954,805 shares.The stock last traded at $42.21 and had previously closed at $41.52.

Fidelity Enhanced Mid Cap ETF Trading Up 1.6%

The firm’s 50-day simple moving average is $40.27 and its 200 day simple moving average is $38.44. The stock has a market cap of $7.97 billion, a P/E ratio of 20.20 and a beta of 0.91.

Hedge Funds Weigh In On Fidelity Enhanced Mid Cap ETF

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Northwestern Mutual Wealth Management Co. boosted its position in Fidelity Enhanced Mid Cap ETF by 170.5% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 18,829,902 shares of the company’s stock worth $685,032,000 after acquiring an additional 11,869,760 shares during the period. Goldman Sachs Group Inc. grew its stake in shares of Fidelity Enhanced Mid Cap ETF by 12,968.9% in the first quarter. Goldman Sachs Group Inc. now owns 2,544,393 shares of the company’s stock worth $79,741,000 after purchasing an additional 2,524,924 shares in the last quarter. Thrivent Financial for Lutherans acquired a new position in shares of Fidelity Enhanced Mid Cap ETF during the fourth quarter valued at $84,551,000. Ameriprise Financial Inc. increased its holdings in shares of Fidelity Enhanced Mid Cap ETF by 8,528.5% during the third quarter. Ameriprise Financial Inc. now owns 2,022,442 shares of the company’s stock valued at $73,118,000 after purchasing an additional 1,999,003 shares during the period. Finally, Wells Fargo & Company MN increased its holdings in shares of Fidelity Enhanced Mid Cap ETF by 90.2% during the fourth quarter. Wells Fargo & Company MN now owns 3,432,732 shares of the company’s stock valued at $124,883,000 after purchasing an additional 1,627,937 shares during the period.

About Fidelity Enhanced Mid Cap ETF

The Fidelity Enhanced Mid Cap ETF (FMDE) is an exchange-traded fund that mostly invests in mid cap equity. The fund is an actively managed fund that invests in US, mid-cap companies. Stock selection is based on computer-aided analysis, which chooses stocks belonging to the Russel Midcap Index. FMDE was launched on Dec 20, 2007 and is issued by Fidelity.