Fidelity Total Bond ETF (NYSEARCA:FBND) Hits New 52-Week Low – What’s Next?

Fidelity Total Bond ETF (NYSEARCA:FBND)’s share price reached a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $44.53 and last traded at $44.5450, with a volume of 762566 shares changing hands. The stock had previously closed at $44.67.

Fidelity Total Bond ETF Stock Performance

The company has a market capitalization of $26.81 billion, a P/E ratio of 8.94 and a beta of 0.27. The business’s fifty day simple moving average is $44.98 and its 200-day simple moving average is $45.47.

Institutional Investors Weigh In On Fidelity Total Bond ETF

Hedge funds have recently made changes to their positions in the company. MCF Advisors LLC grew its holdings in Fidelity Total Bond ETF by 5.8% during the 2nd quarter. MCF Advisors LLC now owns 142,980 shares of the company’s stock valued at $6,528,000 after buying an additional 7,872 shares in the last quarter. Capital Analysts LLC raised its holdings in shares of Fidelity Total Bond ETF by 11.2% during the 2nd quarter. Capital Analysts LLC now owns 3,506,392 shares of the company’s stock worth $159,506,000 after acquiring an additional 353,902 shares in the last quarter. Summit Financial Strategies Inc. raised its holdings in shares of Fidelity Total Bond ETF by 7.1% during the 2nd quarter. Summit Financial Strategies Inc. now owns 2,384,200 shares of the company’s stock worth $108,457,000 after acquiring an additional 157,574 shares in the last quarter. Integrated Wealth Concepts LLC boosted its position in shares of Fidelity Total Bond ETF by 0.9% during the 2nd quarter. Integrated Wealth Concepts LLC now owns 1,252,617 shares of the company’s stock valued at $56,982,000 after acquiring an additional 11,740 shares during the last quarter. Finally, IFP Advisors Inc boosted its position in shares of Fidelity Total Bond ETF by 1.2% during the 2nd quarter. IFP Advisors Inc now owns 120,520 shares of the company’s stock valued at $5,482,000 after acquiring an additional 1,450 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.