Short Interest in Fidelity Total Bond ETF (NYSEARCA:FBND) Declines By 38.8%

Fidelity Total Bond ETF (NYSEARCA:FBND) was the target of a large decline in short interest in the month of July. As of July 15th, there was short interest totaling 1,064,529 shares, a decline of 38.8% from the June 30th total of 1,740,594 shares. Approximately 0.2% of the company’s shares are short sold. Based on an average daily volume of 3,182,620 shares, the short-interest ratio is currently 0.3 days.

Fidelity Total Bond ETF Trading Down 0.3%

FBND stock traded down $0.12 during midday trading on Friday, hitting $44.72. The company had a trading volume of 3,630,212 shares, compared to its average volume of 2,813,243. The stock has a market cap of $26.95 billion, a price-to-earnings ratio of 8.94 and a beta of 0.27. Fidelity Total Bond ETF has a 52 week low of $44.65 and a 52 week high of $46.86. The stock’s 50 day moving average price is $45.38 and its 200 day moving average price is $45.75.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in FBND. Northwestern Mutual Wealth Management Co. boosted its position in Fidelity Total Bond ETF by 3.3% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 92,442,810 shares of the company’s stock valued at $4,256,067,000 after buying an additional 2,925,667 shares during the period. Morgan Stanley increased its position in shares of Fidelity Total Bond ETF by 16.2% in the fourth quarter. Morgan Stanley now owns 34,716,320 shares of the company’s stock valued at $1,598,339,000 after acquiring an additional 4,830,198 shares during the period. Bank of America Corp DE raised its stake in shares of Fidelity Total Bond ETF by 6.3% during the first quarter. Bank of America Corp DE now owns 14,706,838 shares of the company’s stock valued at $670,926,000 after acquiring an additional 871,672 shares during the last quarter. JPMorgan Chase & Co. raised its stake in shares of Fidelity Total Bond ETF by 25.8% during the fourth quarter. JPMorgan Chase & Co. now owns 11,574,323 shares of the company’s stock valued at $532,882,000 after acquiring an additional 2,374,913 shares during the last quarter. Finally, LPL Financial LLC boosted its holdings in shares of Fidelity Total Bond ETF by 25.2% during the fourth quarter. LPL Financial LLC now owns 9,387,074 shares of the company’s stock worth $432,181,000 after purchasing an additional 1,887,404 shares during the period.

Fidelity Total Bond ETF Company Profile

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.