Powell Investment Advisors LLC Lowers Stock Holdings in Fidelity Total Bond ETF (NYSEARCA:FBND)

Powell Investment Advisors LLC cut its stake in shares of Fidelity Total Bond ETF (NYSEARCA:FBND) by 5.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 83,621 shares of the company’s stock after selling 4,548 shares during the quarter. Fidelity Total Bond ETF accounts for approximately 2.0% of Powell Investment Advisors LLC’s holdings, making the stock its 11th biggest position. Powell Investment Advisors LLC owned approximately 0.09% of Fidelity Total Bond ETF worth $3,803,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Financial Management Professionals Inc. acquired a new position in shares of Fidelity Total Bond ETF during the 4th quarter worth $25,000. Pineridge Advisors LLC acquired a new stake in Fidelity Total Bond ETF in the 4th quarter valued at about $46,000. PNC Financial Services Group Inc. acquired a new position in Fidelity Total Bond ETF during the fourth quarter worth about $58,000. Sound Income Strategies LLC acquired a new stake in shares of Fidelity Total Bond ETF during the fourth quarter valued at $74,000. Finally, Private Trust Co. NA lifted its holdings in Fidelity Total Bond ETF by 51.2% in the 4th quarter. Private Trust Co. NA now owns 1,616 shares of the company’s stock valued at $74,000 after purchasing an additional 547 shares in the last quarter.

Fidelity Total Bond ETF Stock Down 0.5 %

Shares of NYSEARCA:FBND traded down $0.21 during midday trading on Friday, reaching $44.93. The company’s stock had a trading volume of 1,121,524 shares, compared to its average volume of 1,244,409. The firm has a market cap of $8.97 billion, a price-to-earnings ratio of 8.85 and a beta of 0.19. The business has a 50 day moving average price of $44.85 and a 200 day moving average price of $45.18. Fidelity Total Bond ETF has a 1 year low of $42.45 and a 1 year high of $46.21.

About Fidelity Total Bond ETF

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.