Cornerstone Wealth LLC TN Invests $5.09 Million in Fidelity Total Bond ETF $FBND

Cornerstone Wealth LLC TN purchased a new position in shares of Fidelity Total Bond ETF (NYSEARCA:FBND) during the first quarter, HoldingsChannel.com reports. The institutional investor purchased 111,058 shares of the company’s stock, valued at approximately $5,092,000. Fidelity Total Bond ETF comprises about 2.9% of Cornerstone Wealth LLC TN’s investment portfolio, making the stock its 12th largest position.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of FBND. Northwestern Mutual Wealth Management Co. boosted its stake in Fidelity Total Bond ETF by 3.3% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 92,442,810 shares of the company’s stock worth $4,256,067,000 after purchasing an additional 2,925,667 shares in the last quarter. Morgan Stanley increased its stake in shares of Fidelity Total Bond ETF by 16.2% in the fourth quarter. Morgan Stanley now owns 34,716,320 shares of the company’s stock valued at $1,598,339,000 after buying an additional 4,830,198 shares in the last quarter. Bank of America Corp DE raised its holdings in shares of Fidelity Total Bond ETF by 6.3% in the first quarter. Bank of America Corp DE now owns 14,706,838 shares of the company’s stock valued at $670,926,000 after buying an additional 871,672 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Fidelity Total Bond ETF by 25.8% in the fourth quarter. JPMorgan Chase & Co. now owns 11,574,323 shares of the company’s stock valued at $532,882,000 after buying an additional 2,374,913 shares during the last quarter. Finally, LPL Financial LLC lifted its position in Fidelity Total Bond ETF by 25.2% during the 4th quarter. LPL Financial LLC now owns 9,387,074 shares of the company’s stock worth $432,181,000 after buying an additional 1,887,404 shares in the last quarter.

Fidelity Total Bond ETF Stock Down 0.4%

Shares of NYSEARCA FBND opened at $44.98 on Thursday. Fidelity Total Bond ETF has a 12-month low of $44.82 and a 12-month high of $46.86. The firm’s 50-day simple moving average is $45.39 and its 200 day simple moving average is $45.76. The company has a market cap of $27.10 billion, a price-to-earnings ratio of 8.94 and a beta of 0.27.

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.