Fidelity Low Volatility Factor ETF (NYSEARCA:FDLO) Trading Down 0.7% – Here’s Why

Fidelity Low Volatility Factor ETF (NYSEARCA:FDLO) shares were down 0.7% on Monday . The stock traded as low as $67.65 and last traded at $67.73. 70,283 shares traded hands during mid-day trading, a decline of 1% from the average daily volume of 70,821 shares. The stock had previously closed at $68.24.

Fidelity Low Volatility Factor ETF Price Performance

The company has a market cap of $1.39 billion, a price-to-earnings ratio of 24.34 and a beta of 0.77. The stock has a 50-day moving average price of $69.01 and a 200 day moving average price of $67.72.

Institutional Trading of Fidelity Low Volatility Factor ETF

A number of institutional investors have recently modified their holdings of FDLO. Security Financial Services INC. grew its holdings in shares of Fidelity Low Volatility Factor ETF by 8.9% during the first quarter. Security Financial Services INC. now owns 14,101 shares of the company’s stock worth $911,000 after buying an additional 1,158 shares in the last quarter. Cetera Investment Advisers boosted its position in Fidelity Low Volatility Factor ETF by 6.4% during the 1st quarter. Cetera Investment Advisers now owns 256,501 shares of the company’s stock worth $16,567,000 after acquiring an additional 15,335 shares during the last quarter. First Trust Advisors LP bought a new position in shares of Fidelity Low Volatility Factor ETF during the 1st quarter worth approximately $7,959,000. Hershey Financial Advisers LLC acquired a new stake in shares of Fidelity Low Volatility Factor ETF in the first quarter valued at approximately $1,210,000. Finally, Bank of New York Mellon Corp lifted its position in shares of Fidelity Low Volatility Factor ETF by 9.0% in the first quarter. Bank of New York Mellon Corp now owns 6,861 shares of the company’s stock worth $443,000 after purchasing an additional 564 shares in the last quarter.

About Fidelity Low Volatility Factor ETF

The Fidelity Low Volatility Factor ETF (FDLO) is an exchange-traded fund that is based on the Fidelity U.S. Low Volatility Factor index. The fund tracks an index of large- and mid-cap US stocks selected for low volatility of returns and earnings. FDLO was launched on Sep 12, 2016 and is managed by Fidelity.