Fidelity Quality Factor ETF (NYSEARCA:FQAL) Sees Strong Trading Volume – Time to Buy?

Fidelity Quality Factor ETF (NYSEARCA:FQAL) shares saw unusually-strong trading volume on Monday . Approximately 251,592 shares traded hands during trading, an increase of 467% from the previous session’s volume of 44,390 shares.The stock last traded at $73.24 and had previously closed at $72.13.

Fidelity Quality Factor ETF Stock Up 0.4%

The company has a market capitalization of $1.12 billion, a price-to-earnings ratio of 25.46 and a beta of 0.97. The stock’s fifty day moving average price is $75.99 and its 200-day moving average price is $75.36.

Institutional Investors Weigh In On Fidelity Quality Factor ETF

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. J.W. Cole Advisors Inc. acquired a new position in shares of Fidelity Quality Factor ETF during the 2nd quarter worth about $539,000. Savvy Advisors Inc. acquired a new stake in shares of Fidelity Quality Factor ETF in the third quarter valued at about $796,000. B. Riley Wealth Advisors Inc. bought a new stake in Fidelity Quality Factor ETF during the second quarter worth about $1,079,000. High Probability Advisors LLC raised its holdings in Fidelity Quality Factor ETF by 3.0% during the third quarter. High Probability Advisors LLC now owns 303,348 shares of the company’s stock worth $22,666,000 after acquiring an additional 8,840 shares in the last quarter. Finally, Keystone Wealth Services LLC boosted its position in Fidelity Quality Factor ETF by 804.7% during the third quarter. Keystone Wealth Services LLC now owns 50,652 shares of the company’s stock valued at $3,785,000 after purchasing an additional 45,053 shares during the last quarter.

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.