Fidelity Quality Factor ETF (NYSEARCA:FQAL) Sees Large Volume Increase – What’s Next?

Shares of Fidelity Quality Factor ETF (NYSEARCA:FQAL) saw an uptick in trading volume on Thursday. 172,976 shares changed hands during mid-day trading, an increase of 215% from the previous session’s volume of 54,979 shares. The stock last traded at $84.4430 and had previously closed at $85.20.

Fidelity Quality Factor ETF Stock Down 0.7%

The firm has a 50-day moving average price of $84.30 and a two-hundred day moving average price of $81.66. The company has a market capitalization of $1.44 billion, a P/E ratio of 25.46 and a beta of 0.94.

Institutional Trading of Fidelity Quality Factor ETF

A number of institutional investors and hedge funds have recently modified their holdings of the company. Assetmark Inc. boosted its position in shares of Fidelity Quality Factor ETF by 120.7% during the 1st quarter. Assetmark Inc. now owns 587 shares of the company’s stock valued at $43,000 after acquiring an additional 321 shares in the last quarter. Western Wealth Management LLC acquired a new position in Fidelity Quality Factor ETF in the first quarter valued at about $46,000. Royal Bank of Canada increased its holdings in shares of Fidelity Quality Factor ETF by 11.7% during the first quarter. Royal Bank of Canada now owns 2,782 shares of the company’s stock worth $202,000 after buying an additional 292 shares in the last quarter. Colony Family Offices LLC boosted its holdings in shares of Fidelity Quality Factor ETF by 6.2% in the 3rd quarter. Colony Family Offices LLC now owns 3,735 shares of the company’s stock worth $311,000 after acquiring an additional 217 shares in the last quarter. Finally, Bryant Woods Investment Advisors LLC bought a new position in Fidelity Quality Factor ETF in the 1st quarter valued at $277,000.

About Fidelity Quality Factor ETF

The Fidelity Quality Factor ETF (FQAL) is an exchange-traded fund that is based on the Fidelity U.S. Quality Factor index. The fund tracks an index of fundamentally- selected large and mid- cap US companies that are weighted according to a tiered scheme. FQAL was launched on Sep 12, 2016 and is managed by Fidelity.