Fidelity Quality Factor ETF (NYSEARCA:FQAL) Sees Unusually-High Trading Volume – Still a Buy?

Fidelity Quality Factor ETF (NYSEARCA:FQAL) shares saw unusually-high trading volume on Monday . 37,270 shares changed hands during trading, a decline of 32% from the previous session’s volume of 54,609 shares.The stock last traded at $82.18 and had previously closed at $81.54.

Fidelity Quality Factor ETF Stock Up 0.6%

The firm’s 50-day simple moving average is $81.09 and its 200 day simple moving average is $77.97. The stock has a market capitalization of $1.41 billion, a P/E ratio of 25.46 and a beta of 0.94.

Institutional Trading of Fidelity Quality Factor ETF

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Northwestern Mutual Wealth Management Co. boosted its holdings in Fidelity Quality Factor ETF by 6,154.6% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 1,624,514 shares of the company’s stock worth $122,797,000 after buying an additional 1,598,541 shares in the last quarter. CRA Financial Services LLC bought a new position in shares of Fidelity Quality Factor ETF in the fourth quarter valued at $620,000. Fullerton Advisors LLC bought a new position in shares of Fidelity Quality Factor ETF in the fourth quarter valued at $3,335,000. Silver Oak Securities Incorporated lifted its position in shares of Fidelity Quality Factor ETF by 318.3% during the 4th quarter. Silver Oak Securities Incorporated now owns 26,853 shares of the company’s stock valued at $2,046,000 after acquiring an additional 20,433 shares during the last quarter. Finally, Kestra Advisory Services LLC lifted its position in shares of Fidelity Quality Factor ETF by 33.6% during the 1st quarter. Kestra Advisory Services LLC now owns 899,808 shares of the company’s stock valued at $65,326,000 after acquiring an additional 226,425 shares during the last quarter.

About Fidelity Quality Factor ETF

The Fidelity Quality Factor ETF (FQAL) is an exchange-traded fund that is based on the Fidelity U.S. Quality Factor index. The fund tracks an index of fundamentally- selected large and mid- cap US companies that are weighted according to a tiered scheme. FQAL was launched on Sep 12, 2016 and is managed by Fidelity.