Fidelity Fundamental Small-Mid Cap ETF (BATS:FFSM) Reaches New 1-Year High – Still a Buy?

Shares of Fidelity Fundamental Small-Mid Cap ETF (BATS:FFSM) reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $35.92 and last traded at $35.85, with a volume of 23708 shares traded. The stock had previously closed at $35.36.

Fidelity Fundamental Small-Mid Cap ETF Price Performance

The firm has a 50 day simple moving average of $33.40 and a 200-day simple moving average of $31.98. The company has a market cap of $917.75 million, a price-to-earnings ratio of 16.79 and a beta of 1.09.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the company. Commonwealth Equity Services LLC boosted its position in shares of Fidelity Fundamental Small-Mid Cap ETF by 227.7% during the fourth quarter. Commonwealth Equity Services LLC now owns 1,156,899 shares of the company’s stock worth $35,505,000 after buying an additional 803,856 shares during the period. RFG Advisory LLC boosted its position in shares of Fidelity Fundamental Small-Mid Cap ETF by 19.4% during the first quarter. RFG Advisory LLC now owns 843,183 shares of the company’s stock worth $26,940,000 after buying an additional 136,812 shares during the period. KOM Wealth Management Group LLC boosted its position in shares of Fidelity Fundamental Small-Mid Cap ETF by 4.4% during the first quarter. KOM Wealth Management Group LLC now owns 415,240 shares of the company’s stock worth $13,267,000 after buying an additional 17,585 shares during the period. MAI Capital Management purchased a new position in shares of Fidelity Fundamental Small-Mid Cap ETF during the third quarter worth $8,734,000. Finally, Keenan LLC purchased a new position in shares of Fidelity Fundamental Small-Mid Cap ETF during the fourth quarter worth $8,143,000.

Fidelity Fundamental Small-Mid Cap ETF Company Profile

The Fidelity Fundamental Small-Mid Cap ETF (FFSM) is an exchange-traded fund that mostly invests in extended market equity. The fund is an actively managed, non-transparent ETF that invests in global stocks with small to medium capitalization. The fund utilizes the Fidelity non-transparent model. FFSM was launched on Feb 2, 2021 and is issued by Fidelity.