Fidelity Disruptive Medicine ETF (NASDAQ:FMED) Stock Price Down 1.7% – What’s Next?

Fidelity Disruptive Medicine ETF (NASDAQ:FMED)’s share price dropped 1.7% during mid-day trading on Friday . The company traded as low as $25.50 and last traded at $25.50. Approximately 4,080 shares changed hands during mid-day trading, a decline of 22% from the average daily volume of 5,239 shares. The stock had previously closed at $25.95.

Fidelity Disruptive Medicine ETF Price Performance

The stock has a market cap of $56.10 million, a P/E ratio of 41.33 and a beta of 1.00. The stock has a 50-day simple moving average of $25.41 and a 200-day simple moving average of $24.31.

Hedge Funds Weigh In On Fidelity Disruptive Medicine ETF

An institutional investor recently raised its position in Fidelity Disruptive Medicine ETF stock. Wealth Enhancement Advisory Services LLC increased its holdings in shares of Fidelity Disruptive Medicine ETF (NASDAQ:FMED) by 12.5% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 688,750 shares of the company’s stock after purchasing an additional 76,538 shares during the period. Wealth Enhancement Advisory Services LLC owned approximately 31.31% of Fidelity Disruptive Medicine ETF worth $16,544,000 at the end of the most recent quarter.

Fidelity Disruptive Medicine ETF Company Profile

The Fidelity Disruptive Medicine ETF (FMED) is an exchange-traded fund that mostly invests in health care equity. The fund is an actively managed fund that invests in companies involved in disruptive innovation in Health Care. The fund invests in securities of domestic and foreign issuers FMED was launched on Apr 16, 2020 and is managed by Fidelity.