Fidelity High Yield Factor ETF (NYSEARCA:FDHY) Sees Large Volume Increase – Still a Buy?

Shares of Fidelity High Yield Factor ETF (NYSEARCA:FDHY) saw an uptick in trading volume on Monday. Approximately 584,050 shares were traded during mid-day trading, an increase of 584% from the previous session’s volume of 85,446 shares. The stock last traded at $47.60 and had previously closed at $47.61.

Fidelity High Yield Factor ETF Stock Down 0.0%

The business’s 50 day moving average price is $48.50 and its 200-day moving average price is $48.89.

Institutional Trading of Fidelity High Yield Factor ETF

A number of institutional investors and hedge funds have recently added to or reduced their stakes in FDHY. Nalls Sherbakoff Group LLC acquired a new position in shares of Fidelity High Yield Factor ETF in the 4th quarter worth approximately $25,000. Solstein Capital LLC bought a new position in shares of Fidelity High Yield Factor ETF during the 2nd quarter worth approximately $25,000. Continuum Advisory LLC bought a new position in shares of Fidelity High Yield Factor ETF during the 2nd quarter worth approximately $142,000. Symphony Financial Ltd. Co. bought a new position in shares of Fidelity High Yield Factor ETF during the 2nd quarter worth approximately $250,000. Finally, Rehmann Capital Advisory Group acquired a new stake in Fidelity High Yield Factor ETF in the 2nd quarter valued at $256,000.

About Fidelity High Yield Factor ETF

The Fidelity High Yield Factor ETF (FDHY) is an exchange-traded fund that mostly invests in high yield fixed income. The fund is an actively managed fund using a quantitative screen to select high-yield bonds issued by US and foreign corporations. The fund seeks a high level of income, and may also seek capital appreciation. FDHY was launched on Jun 12, 2018 and is managed by Fidelity.