Fidelity Enhanced Small Cap ETF (NYSEARCA:FESM) Sees Strong Trading Volume – Still a Buy?

Shares of Fidelity Enhanced Small Cap ETF (NYSEARCA:FESM) saw unusually-high trading volume on Tuesday . Approximately 1,289,464 shares changed hands during mid-day trading, an increase of 84% from the previous session’s volume of 699,446 shares.The stock last traded at $40.0910 and had previously closed at $39.66.

Fidelity Enhanced Small Cap ETF Stock Performance

The firm has a market cap of $3.74 billion, a price-to-earnings ratio of 16.78 and a beta of 1.48. The business’s 50-day moving average is $38.94 and its 200-day moving average is $36.76.

Institutional Investors Weigh In On Fidelity Enhanced Small Cap ETF

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Harbor Asset Planning Inc. increased its stake in shares of Fidelity Enhanced Small Cap ETF by 18.1% in the 4th quarter. Harbor Asset Planning Inc. now owns 1,954 shares of the company’s stock valued at $74,000 after buying an additional 299 shares during the period. Cornerstone Planning Group LLC grew its position in shares of Fidelity Enhanced Small Cap ETF by 69.7% during the 3rd quarter. Cornerstone Planning Group LLC now owns 750 shares of the company’s stock worth $28,000 after buying an additional 308 shares during the period. OmniStar Financial Group Inc. grew its holdings in Fidelity Enhanced Small Cap ETF by 1.9% during the second quarter. OmniStar Financial Group Inc. now owns 17,224 shares of the company’s stock valued at $551,000 after purchasing an additional 313 shares during the period. KWB Wealth grew its holdings in shares of Fidelity Enhanced Small Cap ETF by 3.9% in the 4th quarter. KWB Wealth now owns 9,984 shares of the company’s stock valued at $377,000 after buying an additional 371 shares during the period. Finally, Valmark Advisers Inc. grew its stake in Fidelity Enhanced Small Cap ETF by 1.6% in the fourth quarter. Valmark Advisers Inc. now owns 29,792 shares of the company’s stock valued at $1,126,000 after acquiring an additional 476 shares during the period.

Fidelity Enhanced Small Cap ETF Company Profile

The Fidelity Enhanced Small Cap ETF (FESM) is an exchange-traded fund that mostly invests in small-cap stocks. The fund is an actively managed fund that invests in US, small-cap companies. Stock selection is based on computer-aided analysis, which chooses stocks belonging to the Russel 2000 Index. FESM was launched on Dec 20, 2007 and is issued by Fidelity.