Fidelity Total Bond ETF (NYSEARCA:FBND) Stock Short Interest Jumps 400.3%

Fidelity Total Bond ETF (NYSEARCA:FBND) was the target of a significant increase in short interest during the month of October. As of October 15th, there was short interest totaling 642,669 shares, an increase of 400.3% from the September 30th total of 128,462 shares. Currently, 0.1% of the shares of the company are sold short. Based on an average daily volume of 5,682,724 shares, the days-to-cover ratio is presently 0.1 days.

Fidelity Total Bond ETF Price Performance

NYSEARCA:FBND opened at $44.08 on Tuesday. Fidelity Total Bond ETF has a 1 year low of $43.11 and a 1 year high of $46.86. The stock’s fifty day moving average price is $44.17 and its two-hundred day moving average price is $45.32. The company has a market cap of $28.42 billion, a P/E ratio of 8.94 and a beta of 0.28.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in FBND. Bank of America Corp DE boosted its stake in shares of Fidelity Total Bond ETF by 6.3% during the 1st quarter. Bank of America Corp DE now owns 14,706,838 shares of the company’s stock valued at $670,926,000 after purchasing an additional 871,672 shares in the last quarter. Envestnet Asset Management Inc. boosted its holdings in Fidelity Total Bond ETF by 7.9% in the 2nd quarter. Envestnet Asset Management Inc. now owns 8,059,617 shares of the company’s stock worth $366,632,000 after buying an additional 587,351 shares during the period. Cetera Investment Advisers grew its stake in Fidelity Total Bond ETF by 15.9% during the first quarter. Cetera Investment Advisers now owns 6,801,133 shares of the company’s stock valued at $310,268,000 after acquiring an additional 930,834 shares in the last quarter. Sax Wealth Advisors LLC increased its stake in Fidelity Total Bond ETF by 49.8% in the 3rd quarter. Sax Wealth Advisors LLC now owns 6,727,943 shares of the company’s stock worth $291,320,000 after acquiring an additional 2,236,473 shares during the last quarter. Finally, Legacy Wealth Management LLC increased its stake in Fidelity Total Bond ETF by 57.0% during the second quarter. Legacy Wealth Management LLC now owns 5,495,432 shares of the company’s stock worth $249,987,000 after acquiring an additional 1,995,732 shares during the last quarter.

Fidelity Total Bond ETF Company Profile

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.