Fidelity High Yield Factor ETF (NYSEARCA:FDHY) Sees Strong Trading Volume – Should You Buy?

Fidelity High Yield Factor ETF (NYSEARCA:FDHY) shares saw unusually-strong trading volume on Monday . 47,914 shares were traded during mid-day trading, a decline of 41% from the previous session’s volume of 80,788 shares.The stock last traded at $48.95 and had previously closed at $48.81.

Fidelity High Yield Factor ETF Price Performance

The firm has a 50 day moving average of $49.10 and a 200-day moving average of $49.18.

Hedge Funds Weigh In On Fidelity High Yield Factor ETF

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. LPL Financial LLC grew its holdings in shares of Fidelity High Yield Factor ETF by 17.5% during the 4th quarter. LPL Financial LLC now owns 503,214 shares of the company’s stock worth $24,824,000 after purchasing an additional 74,936 shares in the last quarter. Financial Management Professionals Inc. raised its stake in Fidelity High Yield Factor ETF by 10.7% in the fourth quarter. Financial Management Professionals Inc. now owns 451,872 shares of the company’s stock valued at $22,427,000 after purchasing an additional 43,498 shares in the last quarter. Advisory Services Network LLC raised its stake in Fidelity High Yield Factor ETF by 21.9% in the fourth quarter. Advisory Services Network LLC now owns 188,681 shares of the company’s stock valued at $9,308,000 after purchasing an additional 33,937 shares in the last quarter. Moody National Bank Trust Division lifted its position in Fidelity High Yield Factor ETF by 1.8% during the second quarter. Moody National Bank Trust Division now owns 118,644 shares of the company’s stock worth $5,817,000 after purchasing an additional 2,112 shares during the period. Finally, Flavin Financial Services Inc. lifted its position in Fidelity High Yield Factor ETF by 9.0% during the fourth quarter. Flavin Financial Services Inc. now owns 110,418 shares of the company’s stock worth $5,447,000 after purchasing an additional 9,109 shares during the period.

About Fidelity High Yield Factor ETF

The Fidelity High Yield Factor ETF (FDHY) is an exchange-traded fund that mostly invests in high yield fixed income. The fund is an actively managed fund using a quantitative screen to select high-yield bonds issued by US and foreign corporations. The fund seeks a high level of income, and may also seek capital appreciation. FDHY was launched on Jun 12, 2018 and is managed by Fidelity.