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

Fidelity Total Bond ETF (NYSEARCA:FBND) saw unusually-high trading volume on Friday . Approximately 6,561,133 shares changed hands during 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 stock has a market cap of $9.05 billion, a P/E ratio of 8.85 and a beta of 0.19. The company’s 50 day moving average price is $46.22 and its two-hundred day moving average price is $45.74.

Institutional Investors Weigh In On Fidelity Total Bond ETF

A number of institutional investors and hedge funds have recently bought and sold shares of FBND. Mark Sheptoff Financial Planning LLC purchased a new position in shares of Fidelity Total Bond ETF in the 3rd quarter worth approximately $25,000. Northwest Investment Counselors LLC purchased a new position in Fidelity Total Bond ETF during the 3rd quarter worth $30,000. Transcendent Capital Group LLC purchased a new stake in Fidelity Total Bond ETF in the second quarter valued at about $32,000. Highline Wealth Partners LLC purchased a new stake in shares of Fidelity Total Bond ETF during the third quarter worth about $47,000. Finally, Darwin Wealth Management LLC acquired a new position in shares of Fidelity Total Bond ETF during the third quarter valued at about $54,000.

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.