Fidelity Total Bond ETF (NYSEARCA:FBND) Reaches New 52-Week Low – Here’s Why

Fidelity Total Bond ETF (NYSEARCA:FBND) shares reached a new 52-week low during mid-day trading on Thursday . The company traded as low as $44.82 and last traded at $44.86, with a volume of 91584 shares. The stock had previously closed at $44.98.

Fidelity Total Bond ETF Stock Performance

The stock has a market capitalization of $26.95 billion, a P/E ratio of 8.94 and a beta of 0.27. The firm has a 50-day moving average price of $45.36 and a 200 day moving average price of $45.75.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of FBND. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Fidelity Total Bond ETF by 3.3% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 92,442,810 shares of the company’s stock worth $4,256,067,000 after acquiring an additional 2,925,667 shares during the last quarter. Morgan Stanley grew its holdings in shares of Fidelity Total Bond ETF by 16.2% during the 4th quarter. Morgan Stanley now owns 34,716,320 shares of the company’s stock valued at $1,598,339,000 after purchasing an additional 4,830,198 shares during the last quarter. Bank of America Corp DE grew its holdings in shares of Fidelity Total Bond ETF by 6.3% during the 1st quarter. Bank of America Corp DE now owns 14,706,838 shares of the company’s stock valued at $670,926,000 after purchasing an additional 871,672 shares during the last quarter. JPMorgan Chase & Co. raised its position in Fidelity Total Bond ETF by 25.8% in the 4th quarter. JPMorgan Chase & Co. now owns 11,574,323 shares of the company’s stock worth $532,882,000 after purchasing an additional 2,374,913 shares during the period. Finally, LPL Financial LLC raised its position in Fidelity Total Bond ETF by 25.2% in the 4th 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.

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.