Novem Group Makes New Investment in Fidelity Total Bond ETF (NYSEARCA:FBND)

Novem Group purchased a new stake in Fidelity Total Bond ETF (NYSEARCA:FBND) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 9,554 shares of the company’s stock, valued at approximately $429,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Sagespring Wealth Partners LLC acquired a new position in Fidelity Total Bond ETF during the fourth quarter valued at approximately $395,300,000. Raymond James Financial Inc. acquired a new position in Fidelity Total Bond ETF during the fourth quarter worth $196,442,000. JPMorgan Chase & Co. increased its holdings in Fidelity Total Bond ETF by 39.2% during the fourth quarter. JPMorgan Chase & Co. now owns 7,194,319 shares of the company’s stock worth $322,809,000 after buying an additional 2,024,839 shares during the last quarter. Bank of New York Mellon Corp acquired a new position in Fidelity Total Bond ETF during the fourth quarter worth $78,895,000. Finally, Dynasty Wealth Management LLC increased its holdings in Fidelity Total Bond ETF by 142.1% during the fourth quarter. Dynasty Wealth Management LLC now owns 2,940,413 shares of the company’s stock worth $131,936,000 after buying an additional 1,725,938 shares during the last quarter.

Fidelity Total Bond ETF Trading Up 0.2%

Shares of FBND opened at $44.91 on Friday. The company has a market cap of $18.18 billion, a price-to-earnings ratio of 8.94 and a beta of 0.27. Fidelity Total Bond ETF has a 1-year low of $44.30 and a 1-year high of $47.30. The company’s fifty day simple moving average is $45.29 and its 200 day simple moving average is $45.32.

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.