Tower Wealth Partners Inc. Purchases 852 Shares of Fidelity Total Bond ETF (NYSEARCA:FBND)

Tower Wealth Partners Inc. grew its position in Fidelity Total Bond ETF (NYSEARCA:FBND) by 1.3% in the first quarter, HoldingsChannel.com reports. The fund owned 67,559 shares of the company’s stock after buying an additional 852 shares during the period. Fidelity Total Bond ETF comprises about 1.6% of Tower Wealth Partners Inc.’s portfolio, making the stock its 12th biggest holding. Tower Wealth Partners Inc.’s holdings in Fidelity Total Bond ETF were worth $3,084,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently modified their holdings of the company. PNC Financial Services Group Inc. bought a new position in shares of Fidelity Total Bond ETF in the 4th quarter valued at about $25,000. NBC Securities Inc. bought a new position in shares of Fidelity Total Bond ETF in the 1st quarter valued at about $28,000. Lindbrook Capital LLC bought a new position in shares of Fidelity Total Bond ETF in the 4th quarter valued at about $32,000. Tucker Asset Management LLC bought a new position in shares of Fidelity Total Bond ETF in the 4th quarter valued at about $36,000. Finally, Brown Brothers Harriman & Co. bought a new position in shares of Fidelity Total Bond ETF in the 4th quarter valued at about $59,000.

Fidelity Total Bond ETF Price Performance

Shares of FBND opened at $45.01 on Friday. The firm has a 50-day moving average of $45.18 and a 200-day moving average of $45.29. Fidelity Total Bond ETF has a one year low of $44.30 and a one year high of $47.30. The company has a market cap of $18.22 billion, a PE ratio of 8.94 and a beta of 0.27.

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.