Fidelity Blue Chip Growth ETF (BATS:FBCG) Sets New 12-Month High – Still a Buy?

Fidelity Blue Chip Growth ETF (BATS:FBCG)’s share price hit a new 52-week high on Wednesday . The company traded as high as $59.99 and last traded at $59.99, with a volume of 748 shares changing hands. The stock had previously closed at $57.22.

Fidelity Blue Chip Growth ETF Price Performance

The firm has a market capitalization of $5.24 billion, a P/E ratio of 29.62 and a beta of 1.32. The company’s 50-day simple moving average is $52.86 and its two-hundred day simple moving average is $53.86.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in FBCG. Align Financial LLC bought a new position in Fidelity Blue Chip Growth ETF in the fourth quarter worth approximately $845,406,000. Northwestern Mutual Wealth Management Co. raised its position in Fidelity Blue Chip Growth ETF by 249.4% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 2,325,514 shares of the company’s stock worth $127,531,000 after acquiring an additional 1,660,026 shares during the period. Dynasty Wealth Management LLC raised its position in Fidelity Blue Chip Growth ETF by 27.3% in the third quarter. Dynasty Wealth Management LLC now owns 7,011,069 shares of the company’s stock worth $376,214,000 after acquiring an additional 1,503,658 shares during the period. Thrivent Financial for Lutherans raised its position in Fidelity Blue Chip Growth ETF by 405.7% in the fourth quarter. Thrivent Financial for Lutherans now owns 1,458,331 shares of the company’s stock worth $79,975,000 after acquiring an additional 1,169,960 shares during the period. Finally, FIL Ltd bought a new position in Fidelity Blue Chip Growth ETF in the fourth quarter worth approximately $57,382,000.

About Fidelity Blue Chip Growth ETF

The Fidelity Blue Chip Growth ETF (FBCG) is an exchange-traded fund that is based on the Russell 1000 Growth index. The fund is an actively-managed, non-transparent fund of fundamentally-selected global growth stocks. The fund utilizes the Fidelity non-transparent model. FBCG was launched on Jun 3, 2020 and is managed by Fidelity.