Fidelity NASDAQ Composite Index ETF (NASDAQ:ONEQ) Sees Strong Trading Volume – Should You Buy?

Shares of Fidelity NASDAQ Composite Index ETF (NASDAQ:ONEQ) saw an uptick in trading volume on Thursday. Approximately 630,278 shares changed hands during mid-day trading, an increase of 90% from the previous session’s volume of 331,270 shares. The stock last traded at $104.8260 and had previously closed at $105.24.

Fidelity NASDAQ Composite Index ETF Stock Performance

The stock has a market cap of $10.87 billion, a P/E ratio of 28.20 and a beta of 1.22. The company has a 50-day simple moving average of $104.94 and a 200-day simple moving average of $101.40.

Fidelity NASDAQ Composite Index ETF Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 22nd. Shareholders of record on Friday, September 18th were issued a dividend of $0.1120 per share. The ex-dividend date of this dividend was Friday, September 18th. This represents a $0.45 annualized dividend and a yield of 0.4%. This is a decrease from Fidelity NASDAQ Composite Index ETF’s previous quarterly dividend of $0.1430.

Institutional Trading of Fidelity NASDAQ Composite Index ETF

A number of institutional investors have recently bought and sold shares of ONEQ. Align Financial LLC bought a new stake in Fidelity NASDAQ Composite Index ETF in the fourth quarter valued at about $27,128,000. FOCUS Wealth Advisors LLC acquired a new position in Fidelity NASDAQ Composite Index ETF in the second quarter valued at about $11,775,000. Coastline Complete Wealth LLC acquired a new position in Fidelity NASDAQ Composite Index ETF in the first quarter valued at about $8,602,000. Kestra Advisory Services LLC lifted its stake in Fidelity NASDAQ Composite Index ETF by 21.4% in the first quarter. Kestra Advisory Services LLC now owns 510,241 shares of the company’s stock valued at $43,325,000 after buying an additional 89,794 shares during the period. Finally, Harvest Investment Advisors LLC bought a new position in Fidelity NASDAQ Composite Index ETF during the fourth quarter worth about $7,514,000.

About Fidelity NASDAQ Composite Index ETF

Fidelity Nasdaq Composite Index Tracking Stock (the Fund) is an exchange-traded fund . The Fund seeks to provide investment returns that closely correspond to the price and yield performance of the NASDAQ Composite Index (the Index). The Fund normally invests at least 80% of assets in common stocks included in the Index .The NASDAQ Composite Index is a market capitalization-weighted index that is designed to represent the performance of NASDAQ securities and includes over 3,000 stocks. The Fund uses statistical sampling techniques that take into account such factors as capitalization, industry exposures, dividend yield, price/earnings (P/E) ratio, price/book (P/B) ratio, and earnings growth to create a portfolio of securities listed in the index that have a similar investment profile to the entire the Index.