Fidelity Total Bond ETF (NYSEARCA:FBND) Sees Significant Growth in Short Interest

Fidelity Total Bond ETF (NYSEARCA:FBND) was the target of a significant increase in short interest in the month of August. As of August 31st, there was short interest totaling 1,214,103 shares, an increase of 168.5% from the August 15th total of 452,183 shares. Currently, 0.2% of the shares of the stock are short sold. Based on an average daily volume of 2,677,059 shares, the days-to-cover ratio is currently 0.5 days.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of FBND. Waverly Advisors LLC boosted its stake in shares of Fidelity Total Bond ETF by 521.8% during the 2nd quarter. Waverly Advisors LLC now owns 3,836,584 shares of the company’s stock worth $174,526,000 after acquiring an additional 3,219,570 shares in the last quarter. Align Financial LLC purchased a new position in shares of Fidelity Total Bond ETF in the 4th quarter valued at about $141,726,000. Northwestern Mutual Wealth Management Co. increased its stake in shares of Fidelity Total Bond ETF by 3.3% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 92,442,810 shares of the company’s stock valued at $4,256,067,000 after purchasing an additional 2,925,667 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in Fidelity Total Bond ETF by 25.8% in the 4th quarter. JPMorgan Chase & Co. now owns 11,574,323 shares of the company’s stock worth $532,882,000 after purchasing an additional 2,374,913 shares during the period. Finally, Legacy Wealth Management LLC raised its holdings in Fidelity Total Bond ETF by 57.0% in the 2nd quarter. Legacy Wealth Management LLC now owns 5,495,432 shares of the company’s stock worth $249,987,000 after purchasing an additional 1,995,732 shares during the period.

Fidelity Total Bond ETF Stock Down 0.1%

NYSEARCA FBND opened at $44.21 on Tuesday. The firm has a market cap of $26.78 billion, a price-to-earnings ratio of 8.94 and a beta of 0.27. The business has a 50-day moving average price of $44.93 and a 200-day moving average price of $45.43. Fidelity Total Bond ETF has a twelve month low of $44.11 and a twelve month high of $46.86.

Fidelity Total Bond ETF Company Profile

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.