Fidelity Total Bond ETF (NYSEARCA:FBND) Hits New 1-Year Low – Time to Sell?

Shares of Fidelity Total Bond ETF (NYSEARCA:FBND) reached a new 52-week low during trading on Wednesday. The stock traded as low as $43.11 and last traded at $43.2150, with a volume of 310632 shares changing hands. The stock had previously closed at $43.35.

Fidelity Total Bond ETF Trading Down 0.2%

The stock has a market cap of $27.89 billion, a PE ratio of 8.94 and a beta of 0.28. The business’s 50-day moving average price is $44.49 and its 200-day moving average price is $45.16.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Envestnet Portfolio Solutions Inc. raised its stake in Fidelity Total Bond ETF by 9.0% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 294,442 shares of the company’s stock valued at $13,394,000 after buying an additional 24,203 shares during the last quarter. Envestnet Asset Management Inc. boosted its stake in Fidelity Total Bond ETF by 7.9% in the 2nd quarter. Envestnet Asset Management Inc. now owns 8,059,617 shares of the company’s stock worth $366,632,000 after purchasing an additional 587,351 shares in the last quarter. Security National Bank of Sioux City Iowa IA purchased a new stake in Fidelity Total Bond ETF during the 2nd quarter worth approximately $696,000. Talon Private Wealth LLC increased its stake in Fidelity Total Bond ETF by 10.6% during the 2nd quarter. Talon Private Wealth LLC now owns 4,937 shares of the company’s stock valued at $225,000 after purchasing an additional 474 shares in the last quarter. Finally, MCF Advisors LLC raised its holdings in shares of Fidelity Total Bond ETF by 5.8% in the second quarter. MCF Advisors LLC now owns 142,980 shares of the company’s stock worth $6,528,000 after buying an additional 7,872 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.