Short Interest in Fidelity Total Bond ETF (NYSEARCA:FBND) Declines By 38.8%

Fidelity Total Bond ETF (NYSEARCA:FBND) was the target of a significant drop in short interest in July. As of July 15th, there was short interest totaling 1,064,529 shares, a drop of 38.8% from the June 30th total of 1,740,594 shares. Approximately 0.2% of the company’s stock are sold short. Based on an average daily trading volume, of 3,182,620 shares, the days-to-cover ratio is currently 0.3 days.

Fidelity Total Bond ETF Stock Performance

Fidelity Total Bond ETF stock traded down $0.14 during midday trading on Thursday, reaching $44.84. The stock had a trading volume of 2,553,944 shares, compared to its average volume of 2,807,569. The stock has a market capitalization of $27.02 billion, a P/E ratio of 8.94 and a beta of 0.27. The firm’s fifty day simple moving average is $45.38 and its 200-day simple moving average is $45.75. Fidelity Total Bond ETF has a 1-year low of $44.80 and a 1-year high of $46.86.

Institutional Trading of Fidelity Total Bond ETF

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Sunburst Financial Group LLC grew its stake in Fidelity Total Bond ETF by 2.6% in the fourth quarter. Sunburst Financial Group LLC now owns 1,110,436 shares of the company’s stock valued at $51,124,000 after purchasing an additional 28,089 shares in the last quarter. Capital Wealth Management LLC raised its stake in shares of Fidelity Total Bond ETF by 9.3% during the 1st quarter. Capital Wealth Management LLC now owns 625,513 shares of the company’s stock worth $28,536,000 after purchasing an additional 53,398 shares in the last quarter. Apollon Financial LLC bought a new stake in shares of Fidelity Total Bond ETF during the 4th quarter worth approximately $750,000. OLIO Financial Planning boosted its holdings in shares of Fidelity Total Bond ETF by 5.8% in the 4th quarter. OLIO Financial Planning now owns 975,741 shares of the company’s stock valued at $44,923,000 after buying an additional 53,318 shares during the last quarter. Finally, Cornerstone Wealth Group LLC boosted its holdings in shares of Fidelity Total Bond ETF by 5.8% in the 4th quarter. Cornerstone Wealth Group LLC now owns 330,234 shares of the company’s stock valued at $15,204,000 after buying an additional 18,123 shares during the last quarter.

Fidelity Total Bond ETF Company Profile

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.