Targeted Financial Services LLC Invests $22.45 Million in Fidelity Total Bond ETF $FBND

Targeted Financial Services LLC bought a new stake in Fidelity Total Bond ETF (NYSEARCA:FBND) during the fourth quarter, HoldingsChannel.com reports. The fund bought 487,686 shares of the company’s stock, valued at approximately $22,453,000. Fidelity Total Bond ETF accounts for 19.3% of Targeted Financial Services LLC’s holdings, making the stock its 2nd biggest holding.

Several other hedge funds have also bought and sold shares of the company. Morgan Stanley grew its holdings in Fidelity Total Bond ETF by 16.2% during the fourth quarter. Morgan Stanley now owns 34,716,320 shares of the company’s stock worth $1,598,339,000 after purchasing an additional 4,830,198 shares during the period. Northwestern Mutual Wealth Management Co. raised its stake in Fidelity Total Bond ETF by 3.9% in the third quarter. Northwestern Mutual Wealth Management Co. now owns 89,517,143 shares of the company’s stock valued at $4,139,273,000 after buying an additional 3,390,440 shares during the period. Align Financial LLC bought a new stake in Fidelity Total Bond ETF in the fourth quarter valued at approximately $141,726,000. JPMorgan Chase & Co. lifted its position in shares of Fidelity Total Bond ETF by 25.8% in the fourth quarter. JPMorgan Chase & Co. now owns 11,574,323 shares of the company’s stock valued at $532,882,000 after buying an additional 2,374,913 shares during the last quarter. Finally, Dynasty Wealth Management LLC lifted its position in shares of Fidelity Total Bond ETF by 30.0% in the fourth quarter. Dynasty Wealth Management LLC now owns 8,650,398 shares of the company’s stock valued at $398,264,000 after buying an additional 1,993,799 shares during the last quarter.

Fidelity Total Bond ETF Stock Performance

Shares of NYSEARCA FBND opened at $45.61 on Friday. Fidelity Total Bond ETF has a 12 month low of $44.82 and a 12 month high of $46.86. The stock has a 50 day moving average of $45.60 and a 200-day moving average of $45.95. The company has a market capitalization of $25.56 billion, a P/E ratio of 8.94 and a beta of 0.27.

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.