Fidelity Total Bond ETF (NYSEARCA:FBND) Sees Large Volume Increase – Time to Buy?

Fidelity Total Bond ETF (NYSEARCA:FBND) shares saw strong trading volume on Monday . 45,987,539 shares traded hands during trading, an increase of 2,828% from the previous session’s volume of 1,570,448 shares.The stock last traded at $45.67 and had previously closed at $45.71.

Fidelity Total Bond ETF Trading Down 0.1 %

The company’s 50-day moving average price is $46.54 and its two-hundred day moving average price is $45.63. The company has a market cap of $9.11 billion, a P/E ratio of 8.85 and a beta of 0.19.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Northwest Investment Counselors LLC acquired a new stake in shares of Fidelity Total Bond ETF during the third quarter worth approximately $30,000. Transcendent Capital Group LLC bought a new position in Fidelity Total Bond ETF during the second quarter valued at approximately $32,000. Centerpoint Advisors LLC bought a new position in Fidelity Total Bond ETF during the first quarter valued at approximately $37,000. Highline Wealth Partners LLC bought a new position in Fidelity Total Bond ETF during the third quarter valued at approximately $47,000. Finally, Strategic Financial Concepts LLC bought a new position in Fidelity Total Bond ETF during the second quarter valued at approximately $49,000.

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.