Drake & Associates LLC Buys 80,943 Shares of Fidelity Total Bond ETF $FBND

Drake & Associates LLC raised its stake in Fidelity Total Bond ETF (NYSEARCA:FBND) by 9.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 918,570 shares of the company’s stock after buying an additional 80,943 shares during the period. Fidelity Total Bond ETF comprises about 8.4% of Drake & Associates LLC’s portfolio, making the stock its biggest position. Drake & Associates LLC owned 0.18% of Fidelity Total Bond ETF worth $42,291,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Root Financial Partners LLC acquired a new position in shares of Fidelity Total Bond ETF in the fourth quarter worth approximately $25,000. Rialto Wealth Management LLC bought a new stake in Fidelity Total Bond ETF in the fourth quarter valued at approximately $32,000. Clearstead Advisors LLC acquired a new stake in Fidelity Total Bond ETF during the 3rd quarter valued at approximately $36,000. Tucker Asset Management LLC acquired a new stake in Fidelity Total Bond ETF during the 4th quarter valued at approximately $37,000. Finally, Fifth Third Bancorp increased its position in Fidelity Total Bond ETF by 78.0% during the 3rd quarter. Fifth Third Bancorp now owns 1,068 shares of the company’s stock valued at $49,000 after purchasing an additional 468 shares during the period.

Fidelity Total Bond ETF Stock Performance

Fidelity Total Bond ETF stock opened at $45.61 on Friday. The firm has a market cap of $25.56 billion, a price-to-earnings ratio of 8.94 and a beta of 0.27. Fidelity Total Bond ETF has a 52-week low of $44.82 and a 52-week high of $46.86. The firm has a 50 day moving average price of $45.61 and a two-hundred day moving average price of $45.95.

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.