Fidelity Total Bond ETF (NYSEARCA:FBND) Sets New 52-Week Low – Time to Sell?

Fidelity Total Bond ETF (NYSEARCA:FBND) hit a new 52-week low during mid-day trading on Tuesday . The company traded as low as $44.64 and last traded at $44.67, with a volume of 1249979 shares traded. The stock had previously closed at $44.75.

Fidelity Total Bond ETF Trading Down 0.3%

The firm has a market cap of $27.03 billion, a PE ratio of 8.94 and a beta of 0.27. The stock has a 50 day simple moving average of $45.14 and a 200-day simple moving average of $45.57.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in FBND. Corient Private Wealth LP increased its holdings in shares of Fidelity Total Bond ETF by 5.4% in the second quarter. Corient Private Wealth LP now owns 1,808,251 shares of the company’s stock worth $82,259,000 after purchasing an additional 92,976 shares during the last quarter. Ameritas Advisory Services LLC increased its holdings in shares of Fidelity Total Bond ETF by 94.0% in the 2nd quarter. Ameritas Advisory Services LLC now owns 1,517,610 shares of the company’s stock worth $69,036,000 after buying an additional 735,242 shares during the last quarter. Kintra Wealth LLC raised its position in shares of Fidelity Total Bond ETF by 1,016.3% during the 2nd quarter. Kintra Wealth LLC now owns 448,871 shares of the company’s stock valued at $20,217,000 after buying an additional 408,660 shares in the last quarter. Endeavor Private Wealth Inc. raised its position in shares of Fidelity Total Bond ETF by 72.3% during the 2nd quarter. Endeavor Private Wealth Inc. now owns 8,648 shares of the company’s stock valued at $395,000 after buying an additional 3,629 shares in the last quarter. Finally, HB Wealth Management LLC lifted its holdings in shares of Fidelity Total Bond ETF by 129.4% in the 2nd quarter. HB Wealth Management LLC now owns 21,383 shares of the company’s stock valued at $973,000 after acquiring an additional 12,063 shares during the last quarter.

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.