Fidelity Total Bond ETF (NYSEARCA:FBND) Sees Strong Trading Volume – Should You Buy?

Fidelity Total Bond ETF (NYSEARCA:FBND) shares saw strong trading volume on Friday . 6,561,133 shares were traded during mid-day trading, an increase of 289% from the previous session’s volume of 1,684,632 shares.The stock last traded at $45.32 and had previously closed at $45.34.

Fidelity Total Bond ETF Price Performance

The company has a fifty day moving average of $46.25 and a two-hundred day moving average of $45.73. The stock has a market capitalization of $9.06 billion, a P/E ratio of 8.85 and a beta of 0.19.

Hedge Funds Weigh In On Fidelity Total Bond ETF

A number of hedge funds have recently added to or reduced their stakes in FBND. Mark Sheptoff Financial Planning LLC bought a new position in shares of Fidelity Total Bond ETF in the 3rd quarter worth about $25,000. Northwest Investment Counselors LLC acquired a new stake in Fidelity Total Bond ETF during the third quarter worth about $30,000. Transcendent Capital Group LLC bought a new position in Fidelity Total Bond ETF in the second quarter worth about $32,000. Highline Wealth Partners LLC acquired a new position in Fidelity Total Bond ETF in the third quarter valued at approximately $47,000. Finally, Strategic Financial Concepts LLC acquired a new stake in shares of Fidelity Total Bond ETF during the 2nd quarter worth approximately $49,000.

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.