Northwestern Mutual Wealth Management Co. Has $4.26 Billion Stock Position in Fidelity Total Bond ETF $FBND

Northwestern Mutual Wealth Management Co. increased its stake in shares of Fidelity Total Bond ETF (NYSEARCA:FBND) by 3.3% in the fourth quarter, HoldingsChannel reports. The firm owned 92,442,810 shares of the company’s stock after buying an additional 2,925,667 shares during the period. Fidelity Total Bond ETF makes up approximately 2.7% of Northwestern Mutual Wealth Management Co.’s investment portfolio, making the stock its 7th largest position. Northwestern Mutual Wealth Management Co. owned about 0.18% of Fidelity Total Bond ETF worth $4,256,067,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. Rialto Wealth Management LLC acquired a new position in Fidelity Total Bond ETF during the 4th quarter valued at approximately $32,000. Clearstead Advisors LLC acquired a new position in shares of Fidelity Total Bond ETF in the third quarter valued at about $36,000. Tucker Asset Management LLC acquired a new position in shares of Fidelity Total Bond ETF in the fourth quarter valued at about $37,000. Fifth Third Bancorp increased its stake in shares of Fidelity Total Bond ETF by 78.0% in the third quarter. Fifth Third Bancorp now owns 1,068 shares of the company’s stock worth $49,000 after acquiring an additional 468 shares during the period. Finally, Key Capital Management INC acquired a new stake in shares of Fidelity Total Bond ETF in the fourth quarter worth $49,000.

Fidelity Total Bond ETF Price Performance

NYSEARCA:FBND opened at $45.47 on Friday. The firm has a market capitalization of $25.48 billion, a P/E ratio of 8.94 and a beta of 0.28. Fidelity Total Bond ETF has a 1-year low of $44.82 and a 1-year high of $46.86. The company’s fifty day moving average price is $45.66 and its 200-day moving average price is $46.05.

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.