Fidelity Total Bond ETF (NYSEARCA:FBND) Sees Large Growth in Short Interest

Fidelity Total Bond ETF (NYSEARCA:FBND) saw a significant growth in short interest during the month of October. As of October 30th, there was short interest totaling 4,702,412 shares, a growth of 631.7% from the October 15th total of 642,669 shares. Based on an average daily volume of 4,367,864 shares, the days-to-cover ratio is currently 1.1 days. Approximately 0.7% of the shares of the company are sold short.

Hedge Funds Weigh In On Fidelity Total Bond ETF

Several institutional investors have recently bought and sold shares of the stock. Bank of America Corp DE raised its stake in 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 worth $670,926,000 after acquiring an additional 871,672 shares in the last quarter. Envestnet Asset Management Inc. increased its position in shares of Fidelity Total Bond ETF by 7.9% during the 2nd quarter. Envestnet Asset Management Inc. now owns 8,059,617 shares of the company’s stock valued at $366,632,000 after purchasing an additional 587,351 shares during the period. Cetera Investment Advisers lifted its stake in Fidelity Total Bond ETF by 15.9% during the first quarter. Cetera Investment Advisers now owns 6,801,133 shares of the company’s stock valued at $310,268,000 after buying an additional 930,834 shares in the last quarter. Sax Wealth Advisors LLC lifted its holdings in shares of Fidelity Total Bond ETF by 49.8% during the 3rd quarter. Sax Wealth Advisors LLC now owns 6,727,943 shares of the company’s stock valued at $291,320,000 after buying an additional 2,236,473 shares during the last quarter. Finally, Legacy Wealth Management LLC lifted its position in Fidelity Total Bond ETF by 57.0% during the 2nd quarter. Legacy Wealth Management LLC now owns 5,495,432 shares of the company’s stock worth $249,987,000 after acquiring an additional 1,995,732 shares during the last quarter.

Fidelity Total Bond ETF Stock Down 0.6%

Shares of FBND stock traded down $0.28 during trading hours on Thursday, hitting $43.72. 5,862,306 shares of the company’s stock traded hands, compared to its average volume of 3,281,126. Fidelity Total Bond ETF has a 12 month low of $43.11 and a 12 month high of $46.78. The stock’s 50 day simple moving average is $43.95 and its 200 day simple moving average is $45.18. The stock has a market cap of $28.19 billion, a PE ratio of 8.94 and a beta of 0.28.

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.