Fidelity Value Factor ETF (NYSEARCA:FVAL) Sees Strong Trading Volume – Still a Buy?

Fidelity Value Factor ETF (NYSEARCA:FVAL) shares saw strong trading volume on Wednesday . 216,775 shares changed hands during mid-day trading, an increase of 226% from the previous session’s volume of 66,537 shares.The stock last traded at $63.80 and had previously closed at $63.95.

Fidelity Value Factor ETF Stock Performance

The company has a market capitalization of $890.99 million, a price-to-earnings ratio of 15.28 and a beta of 0.93. The firm’s 50-day simple moving average is $61.55 and its 200-day simple moving average is $59.11.

Hedge Funds Weigh In On Fidelity Value Factor ETF

A number of hedge funds and other institutional investors have recently made changes to their positions in FVAL. Private Advisor Group LLC raised its stake in shares of Fidelity Value Factor ETF by 19.3% in the third quarter. Private Advisor Group LLC now owns 7,284 shares of the company’s stock worth $441,000 after acquiring an additional 1,177 shares during the last quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors boosted its holdings in shares of Fidelity Value Factor ETF by 16.7% in the second quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 4,105 shares of the company’s stock valued at $236,000 after buying an additional 586 shares during the period. Envestnet Asset Management Inc. lifted its position in shares of Fidelity Value Factor ETF by 15.7% in the second quarter. Envestnet Asset Management Inc. now owns 1,104,243 shares of the company’s stock worth $63,587,000 after purchasing an additional 149,954 shares in the last quarter. Comerica Bank lifted its position in shares of Fidelity Value Factor ETF by 33.7% in the first quarter. Comerica Bank now owns 2,182 shares of the company’s stock worth $125,000 after purchasing an additional 550 shares in the last quarter. Finally, AE Wealth Management LLC lifted its position in shares of Fidelity Value Factor ETF by 16.4% in the second quarter. AE Wealth Management LLC now owns 71,606 shares of the company’s stock worth $4,123,000 after purchasing an additional 10,087 shares in the last quarter.

About Fidelity Value Factor ETF

The Fidelity Value Factor ETF (FVAL) is an exchange-traded fund that is based on the Fidelity U.S. Value Factor index. The fund follows a fundamentally selected, tier-weighted index of large-cap US stocks. FVAL was launched on Sep 12, 2016 and is managed by Fidelity.