Fidelity Quality Factor ETF (NYSEARCA:FQAL) Sees Large Volume Increase – Time to Buy?

Fidelity Quality Factor ETF (NYSEARCA:FQAL) shares saw unusually-strong trading volume on Monday . Approximately 37,270 shares changed hands during mid-day trading, a decline of 32% from the previous session’s volume of 54,609 shares.The stock last traded at $82.18 and had previously closed at $81.54.

Fidelity Quality Factor ETF Stock Performance

The company has a 50-day moving average price of $80.99 and a 200-day moving average price of $77.89. The firm has a market capitalization of $1.40 billion, a P/E ratio of 25.46 and a beta of 0.94.

Hedge Funds Weigh In On Fidelity Quality Factor ETF

Several institutional investors have recently modified their holdings of the stock. Northwestern Mutual Wealth Management Co. increased its holdings in shares of Fidelity Quality Factor ETF by 6,154.6% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 1,624,514 shares of the company’s stock worth $122,797,000 after purchasing an additional 1,598,541 shares during the period. Kestra Advisory Services LLC grew its position in Fidelity Quality Factor ETF by 33.6% during the first quarter. Kestra Advisory Services LLC now owns 899,808 shares of the company’s stock worth $65,326,000 after buying an additional 226,425 shares in the last quarter. Principal Securities Inc. grew its position in Fidelity Quality Factor ETF by 3,701.5% during the fourth quarter. Principal Securities Inc. now owns 109,218 shares of the company’s stock worth $8,256,000 after buying an additional 106,345 shares in the last quarter. Raymond James Financial Inc. increased its stake in Fidelity Quality Factor ETF by 11,469.7% during the 3rd quarter. Raymond James Financial Inc. now owns 55,303 shares of the company’s stock worth $4,132,000 after acquiring an additional 54,825 shares during the period. Finally, Smith Chas P & Associates PA Cpas increased its stake in Fidelity Quality Factor ETF by 32.9% during the 4th quarter. Smith Chas P & Associates PA Cpas now owns 179,903 shares of the company’s stock worth $13,599,000 after acquiring an additional 44,528 shares during the period.

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.