Fidelity Total Bond ETF (NYSEARCA:FBND) Sees Strong Trading Volume – Still a Buy?

Fidelity Total Bond ETF (NYSEARCA:FBND) saw strong trading volume on Wednesday . 5,338,667 shares changed hands during trading, an increase of 93% from the previous session’s volume of 2,762,842 shares.The stock last traded at $45.46 and had previously closed at $45.49.

Fidelity Total Bond ETF Stock Performance

The stock has a market capitalization of $26.56 billion, a P/E ratio of 8.94 and a beta of 0.27. The stock has a 50 day moving average of $45.54 and a 200-day moving average of $45.90.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in FBND. Dupree Financial Group LLC raised its stake in Fidelity Total Bond ETF by 1.6% during the 4th quarter. Dupree Financial Group LLC now owns 14,135 shares of the company’s stock valued at $651,000 after acquiring an additional 219 shares during the last quarter. Quadrant Capital Group LLC increased its holdings in shares of Fidelity Total Bond ETF by 0.6% in the 3rd quarter. Quadrant Capital Group LLC now owns 38,010 shares of the company’s stock valued at $1,758,000 after purchasing an additional 220 shares in the last quarter. Signature Equity Partners LLC increased its stake in Fidelity Total Bond ETF by 5.4% in the 1st quarter. Signature Equity Partners LLC now owns 4,739 shares of the company’s stock valued at $216,000 after purchasing an additional 244 shares in the last quarter. Insight Advisors LLC PA increased its position in shares of Fidelity Total Bond ETF by 1.6% in the first quarter. Insight Advisors LLC PA now owns 17,988 shares of the company’s stock valued at $821,000 after buying an additional 291 shares in the last quarter. Finally, Investment Advisory Group LLC raised its position in shares of Fidelity Total Bond ETF by 0.4% during the 4th quarter. Investment Advisory Group LLC now owns 71,185 shares of the company’s stock worth $3,277,000 after purchasing an additional 303 shares during the last quarter.

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.