Fidelity Enhanced Mid Cap ETF (NYSEARCA:FMDE) Sees Strong Trading Volume – What’s Next?

Shares of Fidelity Enhanced Mid Cap ETF (NYSEARCA:FMDE) saw unusually-strong trading volume on Tuesday . Approximately 2,601,866 shares changed hands during mid-day trading, an increase of 173% from the previous session’s volume of 954,805 shares.The stock last traded at $42.21 and had previously closed at $41.52.

Fidelity Enhanced Mid Cap ETF Stock Performance

The company has a market cap of $7.90 billion, a price-to-earnings ratio of 20.20 and a beta of 0.91. The company’s 50 day moving average price is $40.37 and its 200 day moving average price is $38.50.

Institutional Trading of Fidelity Enhanced Mid Cap ETF

Several hedge funds have recently modified their holdings of FMDE. Northwestern Mutual Wealth Management Co. raised its holdings in Fidelity Enhanced Mid Cap ETF by 170.5% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 18,829,902 shares of the company’s stock worth $685,032,000 after purchasing an additional 11,869,760 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in shares of Fidelity Enhanced Mid Cap ETF by 12,968.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 2,544,393 shares of the company’s stock valued at $79,741,000 after purchasing an additional 2,524,924 shares during the period. Thrivent Financial for Lutherans bought a new position in shares of Fidelity Enhanced Mid Cap ETF during the 4th quarter worth approximately $84,551,000. Ameriprise Financial Inc. boosted its position in Fidelity Enhanced Mid Cap ETF by 8,528.5% during the third quarter. Ameriprise Financial Inc. now owns 2,022,442 shares of the company’s stock valued at $73,118,000 after purchasing an additional 1,999,003 shares during the last quarter. Finally, Wells Fargo & Company MN raised its holdings in shares of Fidelity Enhanced Mid Cap ETF by 90.2% in the 4th quarter. Wells Fargo & Company MN now owns 3,432,732 shares of the company’s stock valued at $124,883,000 after purchasing an additional 1,627,937 shares during the period.

About Fidelity Enhanced Mid Cap ETF

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