Fidelity Total Bond ETF (NYSEARCA:FBND) Stock Breaks Below Fifty Day Moving Average – Time to Sell?

Shares of Fidelity Total Bond ETF (NYSEARCA:FBND) crossed below its 50-day moving average during trading on Thursday. The stock has a 50-day moving average of $43.95 and traded as low as $43.72. Fidelity Total Bond ETF shares last traded at $43.72, with a volume of 5,862,306 shares.

Fidelity Total Bond ETF Trading Down 0.6%

The firm has a market capitalization of $28.19 billion, a price-to-earnings ratio of 8.94 and a beta of 0.28. The stock’s 50-day moving average is $43.95 and its 200-day moving average is $45.18.

Institutional Trading of Fidelity Total Bond ETF

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. OakTrust Wealth Advisors LLC lifted its position in shares of Fidelity Total Bond ETF by 6.2% during the 3rd quarter. OakTrust Wealth Advisors LLC now owns 156,110 shares of the company’s stock valued at $6,760,000 after acquiring an additional 9,051 shares during the period. Kastel Capital Advisors LLC raised its position in Fidelity Total Bond ETF by 5.0% in the 3rd quarter. Kastel Capital Advisors LLC now owns 507,862 shares of the company’s stock valued at $21,990,000 after buying an additional 23,974 shares during the last quarter. Mayflower Financial Advisors LLC lifted its stake in Fidelity Total Bond ETF by 45.9% during the 3rd quarter. Mayflower Financial Advisors LLC now owns 9,848 shares of the company’s stock valued at $426,000 after acquiring an additional 3,100 shares in the last quarter. Advisors Asset Management Inc. purchased a new position in Fidelity Total Bond ETF during the 3rd quarter worth $232,000. Finally, Private Advisor Group LLC boosted its holdings in Fidelity Total Bond ETF by 38.9% during the 3rd quarter. Private Advisor Group LLC now owns 2,127,237 shares of the company’s stock worth $92,109,000 after acquiring an additional 596,253 shares during 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.