Fidelity Quality Factor ETF (NYSEARCA:FQAL) Sees Strong Trading Volume – Should You Buy?

Shares of Fidelity Quality Factor ETF (NYSEARCA:FQAL) saw unusually-high trading volume on Thursday. 172,976 shares traded hands during trading, an increase of 215% from the previous session’s volume of 54,979 shares. The stock last traded at $84.4430 and had previously closed at $85.20.

Fidelity Quality Factor ETF Stock Performance

The stock’s fifty day moving average is $84.30 and its two-hundred day moving average is $81.66. The firm has a market cap of $1.44 billion, a price-to-earnings ratio of 25.46 and a beta of 0.94.

Institutional Trading of Fidelity Quality Factor ETF

Hedge funds have recently bought and sold shares of the company. Envestnet Asset Management Inc. boosted its holdings in shares of Fidelity Quality Factor ETF by 3.8% during the second quarter. Envestnet Asset Management Inc. now owns 1,373,752 shares of the company’s stock worth $111,770,000 after purchasing an additional 50,502 shares during the period. Kestra Advisory Services LLC grew its position in Fidelity Quality Factor ETF by 33.6% in the first quarter. Kestra Advisory Services LLC now owns 899,808 shares of the company’s stock worth $65,326,000 after acquiring an additional 226,425 shares in the last quarter. Smith Chas P & Associates PA Cpas raised its holdings in shares of Fidelity Quality Factor ETF by 1.3% during the 3rd quarter. Smith Chas P & Associates PA Cpas now owns 179,629 shares of the company’s stock valued at $15,161,000 after purchasing an additional 2,247 shares in the last quarter. Cetera Investment Advisers raised its holdings in Fidelity Quality Factor ETF by 2.8% during the first quarter. Cetera Investment Advisers now owns 171,126 shares of the company’s stock valued at $12,424,000 after buying an additional 4,644 shares in the last quarter. Finally, Kestra Private Wealth Services LLC raised its holdings in Fidelity Quality Factor ETF by 4.2% during the first quarter. Kestra Private Wealth Services LLC now owns 65,682 shares of the company’s stock valued at $4,769,000 after buying an additional 2,671 shares in the last quarter.

About Fidelity Quality Factor ETF

The Fidelity Quality Factor ETF (FQAL) is an exchange-traded fund that is based on the Fidelity U.S. Quality Factor index. The fund tracks an index of fundamentally- selected large and mid- cap US companies that are weighted according to a tiered scheme. FQAL was launched on Sep 12, 2016 and is managed by Fidelity.