Modern Wealth Management LLC Has $100.36 Million Position in Fidelity Total Bond ETF $FBND

Modern Wealth Management LLC boosted its position in Fidelity Total Bond ETF (NYSEARCA:FBND) by 54.3% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,170,408 shares of the company’s stock after buying an additional 764,134 shares during the quarter. Fidelity Total Bond ETF makes up about 2.0% of Modern Wealth Management LLC’s holdings, making the stock its 7th largest position. Modern Wealth Management LLC’s holdings in Fidelity Total Bond ETF were worth $100,360,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the company. Northwestern Mutual Wealth Management Co. lifted its position in shares of Fidelity Total Bond ETF by 6.1% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 86,126,703 shares of the company’s stock valued at $3,940,297,000 after buying an additional 4,963,926 shares during the last quarter. Gallagher Fiduciary Advisors LLC increased its holdings in Fidelity Total Bond ETF by 4,220.9% in the 2nd quarter. Gallagher Fiduciary Advisors LLC now owns 2,017,693 shares of the company’s stock worth $92,309,000 after acquiring an additional 1,970,997 shares during the last quarter. Thrivent Financial for Lutherans increased its holdings in Fidelity Total Bond ETF by 37.6% in the 3rd quarter. Thrivent Financial for Lutherans now owns 2,989,730 shares of the company’s stock worth $138,245,000 after acquiring an additional 816,419 shares during the last quarter. Dynasty Wealth Management LLC raised its stake in Fidelity Total Bond ETF by 13.4% in the 3rd quarter. Dynasty Wealth Management LLC now owns 6,656,599 shares of the company’s stock valued at $307,801,000 after acquiring an additional 786,693 shares during the period. Finally, Sax Wealth Advisors LLC raised its stake in Fidelity Total Bond ETF by 28.8% in the 3rd quarter. Sax Wealth Advisors LLC now owns 3,407,495 shares of the company’s stock valued at $157,563,000 after acquiring an additional 762,741 shares during the period.

Fidelity Total Bond ETF Stock Down 0.1%

NYSEARCA FBND opened at $46.17 on Friday. The company has a market cap of $24.15 billion, a PE ratio of 8.94 and a beta of 0.28. Fidelity Total Bond ETF has a 52 week low of $44.30 and a 52 week high of $46.86. The firm’s 50-day simple moving average is $46.25 and its two-hundred day simple moving average is $46.31.

Fidelity Total Bond ETF Increases Dividend

The firm also recently declared a monthly dividend, which was paid on Monday, March 2nd. Investors of record on Thursday, February 26th were paid a dividend of $0.161 per share. This represents a c) dividend on an annualized basis and a dividend yield of 4.2%. The ex-dividend date was Thursday, February 26th. This is an increase from Fidelity Total Bond ETF’s previous monthly dividend of $0.15.

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.