Fidelity Total Bond ETF (NYSEARCA:FBND) Sees Significant Increase in Short Interest

Fidelity Total Bond ETF (NYSEARCA:FBND) was the recipient of a significant growth in short interest in April. As of April 30th, there was short interest totaling 1,188,724 shares, a growth of 208.8% from the April 15th total of 384,963 shares. Based on an average trading volume of 2,323,555 shares, the days-to-cover ratio is presently 0.5 days. Approximately 0.2% of the shares of the company are sold short.

Fidelity Total Bond ETF Trading Down 0.6%

Shares of Fidelity Total Bond ETF stock traded down $0.28 during trading on Friday, hitting $45.22. 2,503,013 shares of the stock were exchanged, compared to its average volume of 2,803,115. The stock has a market capitalization of $25.34 billion, a price-to-earnings ratio of 8.94 and a beta of 0.28. The company has a fifty day moving average price of $45.78 and a 200-day moving average price of $46.12. Fidelity Total Bond ETF has a 1-year low of $44.73 and a 1-year high of $46.86.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. EnRich Financial Partners LLC raised its holdings in shares of Fidelity Total Bond ETF by 4.0% during the 3rd quarter. EnRich Financial Partners LLC now owns 475,238 shares of the company’s stock worth $21,975,000 after buying an additional 18,362 shares in the last quarter. Financial Management Network Inc. raised its holdings in shares of Fidelity Total Bond ETF by 20.3% during the 4th quarter. Financial Management Network Inc. now owns 123,217 shares of the company’s stock worth $5,673,000 after buying an additional 20,803 shares in the last quarter. Sunburst Financial Group LLC raised its holdings in shares of Fidelity Total Bond ETF by 2.6% during the 4th quarter. Sunburst Financial Group LLC now owns 1,110,436 shares of the company’s stock worth $51,124,000 after buying an additional 28,089 shares in the last quarter. Drake & Associates LLC raised its holdings in shares of Fidelity Total Bond ETF by 14.3% during the 3rd quarter. Drake & Associates LLC now owns 837,627 shares of the company’s stock worth $38,698,000 after buying an additional 104,664 shares in the last quarter. Finally, Coyle Financial Counsel LLC raised its holdings in shares of Fidelity Total Bond ETF by 21.8% during the 3rd quarter. Coyle Financial Counsel LLC now owns 735,709 shares of the company’s stock worth $34,019,000 after buying an additional 131,713 shares in the last quarter.

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.