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

Fidelity Total Bond ETF (NYSEARCA:FBND) was the recipient of a significant drop in short interest in September. As of September 30th, there was short interest totaling 128,462 shares, a drop of 77.5% from the September 15th total of 570,772 shares. Based on an average trading volume of 4,461,135 shares, the days-to-cover ratio is currently 0.0 days. Approximately 0.0% of the company’s stock are short sold.

Fidelity Total Bond ETF Stock Performance

Shares of FBND traded up $0.04 during trading hours on Tuesday, hitting $43.51. The company had a trading volume of 1,524,310 shares, compared to its average volume of 3,140,794. The stock has a market capitalization of $28.05 billion, a price-to-earnings ratio of 8.94 and a beta of 0.28. The firm has a fifty day moving average price of $44.38 and a 200-day moving average price of $45.10. Fidelity Total Bond ETF has a 52-week low of $43.11 and a 52-week high of $46.86.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in FBND. Waverly Advisors LLC boosted its position in Fidelity Total Bond ETF by 521.8% in the second quarter. Waverly Advisors LLC now owns 3,836,584 shares of the company’s stock worth $174,526,000 after purchasing an additional 3,219,570 shares during the last quarter. Align Financial LLC purchased a new stake in shares of Fidelity Total Bond ETF during the 4th quarter valued at about $141,726,000. Sax Wealth Advisors LLC increased its position in shares of Fidelity Total Bond ETF by 49.8% during the 3rd quarter. Sax Wealth Advisors LLC now owns 6,727,943 shares of the company’s stock valued at $291,320,000 after purchasing an additional 2,236,473 shares during the last quarter. Legacy Wealth Management LLC lifted its stake in shares of Fidelity Total Bond ETF by 57.0% in the 2nd quarter. Legacy Wealth Management LLC now owns 5,495,432 shares of the company’s stock worth $249,987,000 after purchasing an additional 1,995,732 shares during the period. Finally, Quotient Wealth Partners LLC lifted its stake in shares of Fidelity Total Bond ETF by 32.9% in the 1st quarter. Quotient Wealth Partners LLC now owns 6,501,284 shares of the company’s stock worth $296,589,000 after purchasing an additional 1,609,056 shares during the period.

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.