Fidelity Enhanced Small Cap ETF (NYSEARCA:FESM) Sees Unusually-High Trading Volume – Time to Buy?

Shares of Fidelity Enhanced Small Cap ETF (NYSEARCA:FESM) saw strong trading volume on Wednesday . Approximately 2,477,305 shares traded hands during mid-day trading, an increase of 238% from the previous session’s volume of 732,995 shares.The stock last traded at $48.26 and had previously closed at $48.11.

Fidelity Enhanced Small Cap ETF Stock Performance

The company has a 50-day moving average of $47.36 and a 200 day moving average of $43.37. The firm has a market cap of $6.22 billion, a P/E ratio of 16.78 and a beta of 1.31.

Institutional Investors Weigh In On Fidelity Enhanced Small Cap ETF

Several institutional investors and hedge funds have recently made changes to their positions in the company. Johnson Financial Group Inc. bought a new stake in shares of Fidelity Enhanced Small Cap ETF in the 4th quarter worth about $66,000. PNC Financial Services Group Inc. bought a new position in Fidelity Enhanced Small Cap ETF during the 4th quarter valued at about $83,000. IFP Advisors Inc acquired a new position in Fidelity Enhanced Small Cap ETF in the fourth quarter valued at about $85,000. Advisory Services Network LLC bought a new stake in Fidelity Enhanced Small Cap ETF during the third quarter worth about $155,000. Finally, JPMorgan Chase & Co. grew its stake in Fidelity Enhanced Small Cap ETF by 9,180.0% during the third quarter. JPMorgan Chase & Co. now owns 4,640 shares of the company’s stock worth $170,000 after buying an additional 4,590 shares during the last quarter.

About Fidelity Enhanced Small Cap ETF

The Fidelity Enhanced Small Cap ETF (FESM) is an exchange-traded fund that mostly invests in small-cap stocks. The fund is an actively managed fund that invests in US, small-cap companies. Stock selection is based on computer-aided analysis, which chooses stocks belonging to the Russel 2000 Index. FESM was launched on Dec 20, 2007 and is issued by Fidelity.