Fidelity Total Bond ETF (NYSEARCA:FBND) Sees Strong Trading Volume – Still a Buy?

Fidelity Total Bond ETF (NYSEARCA:FBND) shares saw unusually-high trading volume on Wednesday . Approximately 5,338,667 shares traded hands during trading, an increase of 93% from the previous session’s volume of 2,762,842 shares.The stock last traded at $45.46 and had previously closed at $45.49.

Fidelity Total Bond ETF Stock Performance

The firm has a market capitalization of $25.46 billion, a P/E ratio of 8.94 and a beta of 0.27. The firm has a 50 day moving average price of $45.56 and a two-hundred day moving average price of $45.91.

Hedge Funds Weigh In On Fidelity Total Bond ETF

A number of hedge funds and other institutional investors have recently modified their holdings of FBND. Root Financial Partners LLC acquired a new stake in Fidelity Total Bond ETF during the 4th quarter worth about $25,000. GHP Investment Advisors Inc. acquired a new stake in shares of Fidelity Total Bond ETF during the first quarter valued at approximately $25,000. Rialto Wealth Management LLC purchased a new stake in shares of Fidelity Total Bond ETF in the 4th quarter valued at approximately $32,000. Clearstead Advisors LLC acquired a new position in Fidelity Total Bond ETF in the 3rd quarter worth approximately $36,000. Finally, Tucker Asset Management LLC acquired a new position in Fidelity Total Bond ETF in the 4th quarter worth approximately $37,000.

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.